According to Lyn Alden, macro investment strategist, cryptocurrencies will revolutionize the international payment system in the coming years. Speaking to his 316,700 Twitter followers about future altcoin projects to be used for global payments, Alden says the importance of Bitcoin’s Lightning Network in the payments industry has been underestimated. Details cryptocoin.com‘in.
“These altcoin projects will drastically change international payments”
Lyn Alden says some of the cryptocurrencies that will be used for global payments in the future include Bitcoin (BTC) and private and public stablecoins:
International payments will look very different in the coming decades than in previous decades. Regulated stablecoins, overseas stablecoins, central bank digital currencies (CBDC), BTC etc.
The macro investment strategist also reacts to a report that Myanmar’s parallel government led by deposed leader Aung San Suu Kyi is designing the Tether (USDT) stablecoin as the official currency for local use:
Chinese media reports that the Myanmar government will now accept the yuan in cross-border trade with China, while Myanmar’s parallel/deposed government will accept Tether USD, according to Bloomberg.
According to their official statement, Tether welcomed the development, saying that “the significance of this moment goes far beyond the potentials of cryptocurrency to provide financial security.” At the beginning of the year, Alden said that the importance of Bitcoin’s Lightning Network in the payments industry had been underestimated. The Lightning Network is a second-layer technology on the Bitcoin Blockchain that enables faster and cheaper transactions than would otherwise be possible. Alden thinks people aren’t aware of this technology yet:
I think people are nagging about the potential importance of the Lightning Network to the payments industry in the next five years. The Lightning Network becomes more important as BTC base tier fees increase. Applications/utility are starting to reach a critical mass and liquidity may increase.
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