Paolo Ardoino expressed: Tether is one of the main drivers of dollar dominance among fiat currencies, and a driver for freedom. Tether is making giant steps to provide the inclusion, accessibility and trust that people need.
Lot of capital moving from Italians’ bank accounts to Bitcoin, even more so recently. Many friends are afraid of the degenerating economical and employment situation. Bitcoin is their edge. And unfortunately for the banks fighting people’s freedom of choice never ends up well.
John Carvalho, CEO Synonym: “Lightning tokens are a way that we can use a blockchain and more specifically to anchor trusted and abstracted tokens on to the Bitcoin network and on to the Bitcoin transactions. And, once you do this, you can basically say, issue a token as a trusted centralized entity.
Why do we need lightning tokens? The main use cases that we are interested in at Synonym for lightning tokens are just basically to recreate the most basic form of finance that you would need in an economy which would be the ability to issue credit, and have tokens that represent this credit issued by businesses.”
When will Lightning Tokens be Available? John Carvalho: Our hope is to have this technology and these applications ready for users to be able to play with by the spring or summer. So, I would say sometime in second quarter. We intend to have tokens lying over in the lightning network. And, at that time we will have a mobile wallet that people can use. Blockchain that people can boot strap for liquidity in purchases in connections to lightning network that are made out of tokens and then also within that quarter ideally release the first token from businesses formally and of course you know the big one everybody is waiting for would be instant Tether.
What use cases should Lightning Tokens Enable? Paolo Ardoino, CTO Tether and Bitfinex stated, “The majority of the most interesting use cases that you can think about is likely to have central businesses, enterprises, and organizations to be main users of these tokens. They could enable swapping of reward points across different companies. You have now some reward points for an airline that you don’t use frequently, but you want suddenly to have reward points for a hotel chain. For example, now, with lightning network you can build this swapping mechanism that are decentralized, that can be handled by third parties, or directly on chain.
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