- The Marshall Islands launched the world’s first on-chain universal basic income using the Stellar blockchain.
- Blockchain technology enabled fast, low-cost, and fully auditable government transactions.
- Stellar (XLM) shows bullish momentum as it holds key trendline support and consolidates above reclaimed ranges.
The Republic of the Marshall Islands has made history by executing the world’s first on-chain universal basic income (UBI) using the Stellar blockchain. Citizens received direct, unconditional payments digitally, showing how blockchain can streamline government disbursements and enhance financial inclusion while ensuring transparency in public fund distribution.
Through the use of Stellar, the RMI ensured that transaction operations take place fast and at a lower cost and are secure. The fact that payments are done on-chain means that there is transparency and that it does not involve third parties. This is a case that shows how technology can improve the efficiency and credibility of social services administered by governments.
The action further cements the Marshall Islands’ ambitions in the field of digital finance. With the recognition for innovating the first national cryptocurrency, the country is now paving the path for other applications of blockchain technology, shifting from merely conducting trading activities. The UBI project can potentially motivate other nations wanting to investigate crypto-welfare alternatives.
Also Read: XLM Breakout Watch: Can Stellar Surge Toward $0.30 Before Year-End?
XLM Eyes Upside as Trendline Support Holds Strong
Moreover, the crypto analyst, BINANCE KILLERS, highlighted that Stellar (XLM) is also displaying signs of renewed strength after rejecting lower prices along a rising trend line. The steep drop has been absorbed quickly, which shows demand at the crucial levels. Such a response has made it possible for the XLM coin to re-enter the trading range.
Following the retake of this region, XLM has started to consolidate above it, which is an indication of a healthy market structure. Remaining above past resistance levels indicates that price is still led by buying pressure, with market participants defending their positions in the market rather than indicating weakness, as could have been expected.
Source: BINANCE KILLERS
The technical scenario appears to be positive as long as the rising trendline and the regained area are maintained. Nonetheless, the bears will regain control, and the market may witness a deeper correction if a break below the trendline occurs. Until then, the bulls will remain in the running and prevent the price from dropping further.
Also Read: Stellar (XLM) Weekly Analysis: Can Price Break Resistance and Reach 0.47?
