Despite the industry’s challenges, Elba remains interested in the technology, states Wired. He is particularly intrigued by how crypto could address financial inclusion issues in West Africa, where less than half of the adult population has access to banking services. Elba sees crypto’s underlying blockchain technology as a means to remove financial barriers in emerging markets.

The Stellar Development Foundation (SDF) is a nonprofit organization established in 2014 to support the development and growth of the Stellar network, an open-source blockchain protocol. The foundation aims to foster financial inclusion and democratize access to financial services by leveraging Stellar’s blockchain technology. Unlike traditional financial systems, Stellar enables quick, low-cost cross-border transactions and has been designed to facilitate the issuance and exchange of digital assets, including cryptocurrencies and tokens.

The SDF provides technical guidance, grants, and other forms of support to businesses and developers who wish to build on the Stellar network. It also plays a crucial role in maintaining Stellar’s codebase and working with regulatory bodies to ensure compliance. Over the years, the foundation has formed partnerships with various financial institutions, tech companies, and nonprofits to broaden Stellar’s reach and impact. Its focus on real-world utility and financial inclusion differentiates it from other blockchain initiatives.

Wired says that Elba is collaborating with the Stellar Development Foundation. Initially starting as a paid brand ambassador, the relationship has apparently evolved into a more mutual business partnership. Elba appreciates Stellar’s focus on real-world utility rather than mere token promotion.

While the specifics of the partnership remain unclear, Wired suggests that the goal is to provide West Africans with an alternative means of financial transactions and money management. Elba likens the potential shift from traditional banking to crypto-based financial services in West Africa to the transition from physical mail to email.

Wired concludes by highlighting Elba’s cautious approach to wielding his influence in the crypto space. Unlike other celebrities who may have misused their influence, Elba aims to promote the idea of financial inclusion through crypto, rather than pushing a specific coin or token.