4 part series on Lightning Network Part 4: Pooh Bear says disruptive change takes longer than expected but impact is bigger than expected

Pooh, exercising his role as moderator at the Pooh Corner Tech Debate, pointed out that most people in the audience are focussed on the supply issues around Lightning Network ie how it works, but that the bigger issues maybe around the demand issues ie who will use it.

“That is why I follow the honey” continued Pooh. “The El Salvador legal tender decision is all about remittances. Through Strike and Lightning Network, people can send/receive/spend money super fast and dirt cheap. This is real competition to using USD and Western Union.”

“Being a bear of little brain”, continued Pooh in his best humble brag voice, “I do NOT have all the answers but these are the questions I am asking:

• How many people in the Rest of the World are getting paid in Bitcoin and spending in Bitcoin?

• How much money are investors putting into uses of Lightning Network? Are those startups focussed on West or Rest?

• Are people in the Rest of the World using Bitcoin or some other cryptocurrency?

I am not interested in a lot of opinions, show me the data!

Some subjects are too complex for our short attention spans, so we do 4 posts one week apart (see here for 1,2,3 some may not be published yet), each one short enough not to lose your attention but in aggregate doing justice to the complexity of the subject. Stay tuned by subscribing.

Daily Fintech’s original insight is made available to you for US$143 a year (which equates to $2.75 per week). $2.75 buys you a coffee (maybe), or the cost of a week’s subscription to the global Fintech blog – caffeine for the mind that could be worth $ millions.

Source: https://dailyfintech.com/2021/07/27/4-part-series-on-lightning-network-part-4-pooh-bear-says-disruptive-change-takes-longer-than-expected-but-impact-is-bigger-than-expected/