Wanxiang Summit 丨 Shore Road Letter: Stellar has completed the third phase of simultaneous cross-border payment

Babbitt reported that on September 17, the fifth global summit of blockchain sponsored by Wanxiang Blockchain Lab was officially opened in Shanghai. In a speech, the Bank of Japan’s Office of Payment and Settlement System Counselor said that Stellar had completed the third phase of development in June this year, namely the simultaneous cross-border payment. The third phase focuses on the security of cross-border payments, which can avoid the risk of financial losses arising from sudden bankruptcy or default in the transaction. From a technical perspective, the security of current cross-border payments can be improved by using payment ideas with simultaneous payments, capital locks, and payment chains.