The Currency Analytics
By Steven Anderson
Stellar Lumens Based Lightnet Vs. China and India
Will Stellar Lumens sustain Competition for its User - Lightnet
Lightnet is a technology based on the Stellar Lumens blockchain, and its focus is to replace the current payment systems like Swift and Ripple.
Tridbodi Arunanondchai, Vice Chairman of Lightnet, stated that over the next three years, a total volume of 50 billion USD and more is the target.
China and India are the target focus of Lightnet. The reason being both countries are the most populated in the world. The Lightnet Startup is based in Bangkok.
The Lightnet payment service will be particularly useful to migrant workers who are looking to send their hard-earned money home.
Lightnet is focusing on providing three innovative solutions, the names of which are BridgeNet, LiquidNet, and SmartNet. The tasks for the main platform are already over.
Of note, Ripple and Stellar Lumens are offering cross-border transactions for a low cost. Ripple has previously announced its focus on expanding in the Asian Market in 2020.
In the recent financial plan proposed by Stellar Lumens for the next decade with the remaining SDF of 30 million XLM for a variety of purposes.
Giants are competing for the Trillion Dollar Remittance market. Will Lightnet survive the competition?
At the time of reporting the news, Stellar Lumens was trading at $0.0480, and the 24-hour trading volume was at $129.69M.