Coinbase crypto exchange is addressing the one thing that is able to disrupt a $150 billion payments industry. Check out the interesting details about the Lightning Network.
Disrupting an essential payments industry
The important crypto exchange Coinbase explained not too long ago that the Lightning Network has the potential to disrupt the massive $150 billion payments industry.
Just to refresh your memory, the Lightning Network is a layer-2 scaling solution built on top of Bitcoin that aims to enable instant and cost-effective transactions for BTC.
In a new blog post, Coinbase explained to their readers the fact that the Lightning Network is targeting a more real-world use case compared to much of the speculative-driven growth on smart contract platforms.
It’s essential to note the fact that Visa and Mastercard are pulling in around $24 billion in 2021 by collecting 2-3% of every transaction completed with their cards.
Coinbase explained the fact that the Lightning Network could be the innovation that undercuts the world’s largest payment processors.
“Humble beginnings aside, the potential to turn crypto’s most valuable asset into a true medium of exchange has the power to bring greater financial inclusion to anyone with a smartphone. The ability to cost-effectively route fiat transactions over Lightning rails without users ever knowing they’re using Bitcoin can disrupt $150B+* a year industries.”
The crypto exchange continued and said that Visa/Mastercard is for fiat currencies, and the same thing Lightning can be for Bitcoin.
“The combination of a universally accessible payment network atop the world’s first open-source protocol for money can help Bitcoin evolve into a true global reserve currency.”
Check out the original post by Coinbase in order to learn more details about the juicy subject.
The crypto markets are doing great at the beginning of this week, following a week that saw amazing performances from the most important digital assets out there.