Tensortask is part of UChicago’s Polsky Center for entrepreneurship and innovation and is building an artificial intelligence market on the stellar blockchain. The Tensortask team has been working on this project for the last 5 months, and so far it is a success. While the project is still in private alpha, they plan to open source their code within the next 4 months.
The most interesting part about this project is that it is a member of the Google cloud platform startup program, an indicator that it is a solid project with massive potential for growth. As such, the fact that it is building on stellar XLM is a big deal, one that adds to the fast-growing use-case of the stellar blockchain.
In the past couple of months, the adoption levels of the stellar blockchain have been quite high. For instance, it has already established a strong use-case in the finance industry. This is all thanks to the merger of lightyear and chain to form interstellar. This merger meant that most of the financial institutions that were using chain could now start using the public stellar blockchain.
Stellar (XLM) also is shaping up as the blockchain that will lead the way in asset tokenization. So far, a number of companies have begun tokenizing on stellar. Considering how much more efficient it is, when compared to traditional ways of raising capital, there is a high probability that more companies could look to stellar tokenization as a way to raise capital for expansion. Small and medium-sized enterprises will be the biggest beneficiaries once stellar tokenization becomes the norm in the business world.
For stellar investors, this growing use case is a good reason to believe in stellar as a crypto that has a real chance of growth, going into the future. Even its long-term chart is showing signs of potential upside gains in the coming months. Stellar is at the very beginning of a potential long-term uptrend. Stellar (XLM) seems to have formed a double-bottom at $0.19 on the weekly charts. It has also seen an increased level in volumes at this price level and has been pushing upwards since it tested this price in September.
It recently hit a high of $0.30 and even after its retracement back to $0.25, momentum is still upwards. Stellar’s long-term price potential is anchored on its growing fundamentals. For instance, if stellar gains mass adoption in asset tokenization especially in Wall Street, it could open see a significant increase in demand, demand that could see its value rise way above its all-time highs.
In the short-term, the value of stellar will continue to trade in tandem with bitcoin (BTC). Bitcoin is still the dominant player in crypto, and in the foreseeable future, will continue to drive market direction. But even under these circumstances, Stellar’s prospects are still good. That’s because bitcoin (BTC) bottomed-out at $6000 and has been on a steady rise from that point on. As such, if it gains bullish momentum towards the end of the year, it could uplift stellar and the rest of the market with it. Stellar (XLM) with its strong fundamentals could rise faster under such conditions