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"TUTORIAL -  How Money Moves on the Stellar Network ?
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#1
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[Image: attachment.php?aid=213]
Step 1 
Amy initiates a payment from an account at her local financial institution (Bank A)
to Tunde's account at his local financial institution (Bank B).



   
Step 2 
The Stellar compliance protocol allows both Amy and Tunde’s financial institutions
to perform the necessary regulatory checks on the sender and receiver before the payment is sent.



   
Step 3 
Amy’s financial institution moves money from her domestic account to the financial institution's pool account.



   
Step 4 
Stellar identifies the best exchange rate being offered on the orderbook for the given currency pair across all approved Market Makers (MMs) on the network. The best offer to exchange the dollars for naira is selected, resulting in the debiting of Bank A’s base account at the given exchange rate.



   
Step 5 
Naira are now credited to the base account of Tunde’s domestic financial institution. This causes Naira to be transferred from Bank B’s pool account to Tunde’s account at Bank B. 



   
Step 6 
Tunde can now access his new funds.


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#2
Download the PDF File
www.mystellar.org/FILE_DOWNLOAD/Stellar - how_money_moves_on_stellar__1_.pdf < ---- Click links
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#3
Thank you for the information,very enlightening for me.
Turns wallet is not as complicated stellar bitcoin wallet
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#4
A good explanation of how stellar works. Well thank you.
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#5
Thank you for giving a full explanation about it mate.
I now understand how this company working
[Image: giphy.gif] 
MY STELLAR WALLET: GAVC4HQRYGMXSTYQ4DKJDRW6MUYG4BAW5C5SRN6463WZHCAF6ESOMZI4
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#6
still can't figured it out. maybe because i'm new to stellar
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#7
Thanks for the info.

Sent from my MyPhoneMY27 using Tapatalk
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#8
A very good post, all clearly explained.A good way to new users learns!
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#9
(16-10-2016, 06:03 PM)san2ok Wrote:
to see parse images, must login
[Image: attachment.php?aid=213]
Step 1 
Amy initiates a payment from an account at her local financial institution (Bank A)
to Tunde's account at his local financial institution (Bank B).




Step 2 
The Stellar compliance protocol allows both Amy and Tunde’s financial institutions
to perform the necessary regulatory checks on the sender and receiver before the payment is sent.




Step 3 
Amy’s financial institution moves money from her domestic account to the financial institution's pool account.



Step 4 
Stellar identifies the best exchange rate being offered on the orderbook for the given currency pair across all approved Market Makers (MMs) on the network. The best offer to exchange the dollars for naira is selected, resulting in the debiting of Bank A’s base account at the given exchange rate.




Step 5 
Naira are now credited to the base account of Tunde’s domestic financial institution. This causes Naira to be transferred from Bank B’s pool account to Tunde’s account at Bank B. 




Step 6 
Tunde can now access his new funds.


Do that mean bank has to connect to the stellar bridge server provided by 3rd party? is it feasible?
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#10
Good explanation for the Money Movement. Thanks for the info.
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#11
Very enlightning...thanks for sharing.... Big Grin
i hope u can explain it, in simple language....hhahaa
Exclamation  
Bullish or Vanish

Thanks for your donation
GC4KAS6W2YCGJGLP633A6F6AKTCV4WSLMTMIQRSEQE5QRRVKSX7THV6S/321930
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#12
very well thank you./..A good explanation of how stellar works. thank you.
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#13
thank you very much, your explanation is really explicit. <3
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#14
now I understand enough. but in my country, Cryptocoin is rather difficult to accept.  Rolleyes
Address : GC4KAS6W2YCGJGLP633A6F6AKTCV4WSLMTMIQRSEQE5QRRVKSX7THV6S
Memo : 67811

Don't forget the memo, because my wallet is on vip.bitcoin.co.id (same address with other member), Thanks | Indonesia  Indonesiabig | Stellar to the moon!!  Angel  
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#15
(16-10-2016, 06:03 PM)san2ok Wrote:
để xem hình ảnh phân tích cú pháp, phải đăng nhập
[Image: attachment.php?aid=213]
Bước 1 
Amy bắt đầu thanh toán từ một tài khoản tại tổ chức tài chính địa phương (Ngân hàng A)
cho tài khoản của Tunde tại tổ chức tài chính địa phương (Bank B).




Bước 2  Giao thức tuân thủ của
Saocho phép cả tổ chức tài chính Amy và Tunde
thực hiện kiểm tra quy định cần thiết đối với người gửi và người nhận trước khi thanh toán được gửi.




Bước 3 
tổ chức tài chính của Amy chuyển tiền từ tài khoản trong nước của mình để tổ chức tài chính của tài khoản hồ bơi .



Bước 4 
Stellar xác định tỷ giá hối đoái tốt nhất đang được cung cấp trên bộ phiếu mua hàng cho cặp tiền tệ nhất định trên tất cả các nhà sản xuất thị trường được chấp thuận (MMs) trên mạng. Lựa chọn tốt nhất để đổi đô la cho naira được chọn, dẫn đến việc ghi nợ tài khoản cơ bản của Bank A theo tỷ giá nhất định.




Bước 5 
Naira bây giờ được ghi có vào tài khoản cơ sở của tổ chức tài chính trong nước của Tunde. Điều này làm cho Naira được chuyển từ tài khoản tiền gửi của Bank B sang tài khoản của Tunde tại Ngân hàng B. 




Bước 6 
Tunde bây giờ có thể truy cập quỹ mới của mình.



Cảm ơn bạn đã giúp tôi hiểu rõ hơn về các hoạt động của sao!

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#16
let me get this right, this transaction can only be possible if there is exchange that connect to fiat currency in Tunde local area, so the payment is proccess instantly.

but the next problem is volatility. what if rate changes 10-20 after Amy purchase some Lumen to send. 

please explain more.
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#17
Good explanation for the Money Movement. Thanks for sharing
Learn, Try, Get, Enjoy
GC4KAS6W2YCGJGLP633A6F6AKTCV4WSLMTMIQRSEQE5QRRVKSX7THV6S Destination Tag 672616
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#18
Interesting read, before I wasn't really sure how any of this worked, good to know!
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#19
Wow, this is a must-read post if you are new member to Stellar community like me. Thanks a lot!
My Stellar Lumens wallet if you want to transfer lumens to me:  

GAE5LQYFHR7L4O5OL7BC5URN2YAK3ST3KE7VFY7TBWVZ4JX4YEJLNNIS

Many thanks. Blush
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#20
good explanation,,and i want to hold xlm until the big price
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