Bitcoin Lightning Network specialist Amboss wants more institutions to leverage the Lightning Network
Amboss co-founder and CEO Jesse Shrader believes that BlackRock missed an opportunity by not considering the Lightning Network in its recent application for a spot bitcoin ETF. Shrader suggests that BlackRock could have used the Lightning Network to earn non-custodial yield on bitcoin and disrupt traditional payment processors.
Key points:
- Shrader believes that BlackRock could disrupt payment processors like Visa, Mastercard, and American Express by utilizing the Lightning Network.
- He is curious to see if BlackRock’s insider status will give its bitcoin ETF proposal a better chance of approval.
- Shrader sees potential for enterprise adoption of the Lightning Network and believes Amboss can help businesses manage risk in joining the network.
- Amboss has shifted its focus to developing tools and services for the Lightning Network ecosystem, including a marketplace for buying and selling Lightning channels.
- Shrader highlights the complexity of the Lightning Network and the need for advanced data analytics to make sense of it.
Hot Take:
The Lightning Network has the potential to revolutionize the way institutions handle bitcoin and disrupt traditional payment processors. BlackRock missed an opportunity to leverage the Lightning Network in its ETF proposal, but the potential for enterprise adoption remains. Amboss is well-positioned to help businesses navigate the complexities of the Lightning Network and benefit from its innovation and development.
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