Lightning Network Will Become the World’s ‘Interoperability Neutral Settlement Layer’ – Technology Bitcoin News

David Marcus, CEO of Lightspark, a company that offers lightning network (LN) related services, has stated that LN will become the “interoperability neutral settlement layer” for the world. Marcus declared that only Bitcoin is “neutral enough” to be implemented as the enabler between national payment systems, granting companies and institutions adopting it an edge for its always-on capabilities.

Lightspark’s David Marcus Believes Lightning Network Might Become the Settlement Layer for World Currencies

David Marcus, CEO of Lightspark, a company that offers lightning network (LN) scaling services, has stated he believes the network will become a neutral, always-on settlement layer interconnecting other real-time payments (RTP) systems.

In a recent interview, Marcus expressed his thoughts about the future of LN, a structure that allows for cheap, almost instantaneous exchange of funds using Bitcoin as a rail. He predicted that, in the future, “any corporation that needs to move money will end up using, directly or indirectly, LN and Bitcoin” for their settlements.

Lightspark makes it easy for companies to operate on LN by providing the infrastructure and liquidity needed for these operations while abstracting the complexity surrounding it. Recently, Lightspark partnered with Coinbase, one of the largest cryptocurrency exchanges in the U.S., to help it implement LN services for its customer base, after having worked several months internally for this task without avail.

Marcus explained that for this end, the company created Universal Money Address (UMA), a protocol that allows LN transactions to involve foreign exchange rates, allowing for a seamless interconnection of different countries and use cases without relying only on bitcoin’s price. UMA extends LN functionality, introducing new use cases.

Also, he reinforced that UMA includes all the compliance information required by certain jurisdictions to process these digital payments, allowing institutions to comply with the travel rule.

Finally, he stressed that companies implementing LN would have an edge over others, given that it constitutes a cheap, always-operative network that lets them overcome the limitations of current payment rails.

What do you think about David Marcus’ thoughts about the future of the lightning network? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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