Additionally, the post noted potential risks associated with “social engineering hacks.” The post explained that Keybase brings security to the mix and integrates the ability to send XLM from one person to another, in a simpler fashion on its platform. Essentially, using cryptocurrencies can appear complicated, sending assets to addresses composed of long strings of letters and numbers. In May 14, 2019, Keybase detailed its platform’s integration with XLM in a blog post. “We definitely expect the Airdrop will bring new users to Keybase,” she said. SDF initially partnered up with Keybase back in 2018, Cathy Corwin, a spokesperson from Inkhouse, Keybase’s PR agency, said. Keybase cofounders Max Krohn and Chris Coyne also built two other successful endeavors SparkNotes and OkCupid. Keybase, according to its website, is a free group messaging, community and file transfer hub touting encryption for user protection. She also added that Stellar has conducted “outreach” to regulatory players for discussion on the “technology.” “We don’t actually focus on XLM for any other purpose other than to effectuate the network, and to bring good to the network and good to the world,” she said. “I’m not concerned about the way that we manage,” she added. In terms of XLM as a potential security, Dixon noted Stellar will “work” with regulatory bodies on the topic of XLM, but also added that they aren’t “worried.” “We will work with regulators to the extent that we need to on all of these issues,” she said. ![]() We’re not doing anything for any regulatory piece.” We maintain and support the development of the codebase for the Stellar network, and in order to bring attention and focus and education to the Stellar network and blockchain technology, this is a great way to be able to do that Our focus is on that part versus anything else that might have been. ![]() ![]() “We don’t even have that as a thought process for us We’ve been giving XLM away since our inception in 2014, so from our standpoint, the giving away of the XLM is our mandate, and it’s one of the things that was originally set up with respect to the mission and how the organization was going to make its mark on the world. Playing the role of a skeptic, one might question whether or not this XLM giveaway might help Stellar avoid SEC concerns that XLM might be a security. As of now, bitcoin seems to be off the hook, labeled as a commodity, although the waters may still be murky for other assets, such as XLM and XRP. Much uncertainty still exists in terms of which crypto assets might officially be deemed as securities by the governing body. Over the past two years or so, the SEC has begun peering into the formerly largely unregulated crypto and blockchain space.
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