Wednesday Oct 27, 2021
Wednesday Oct 27, 2021
CryptoCurrencyWire’s latest audio production features Shone Anstey, Co-Founder, Chairman and CEO of LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption.
To begin the interview, Anstey discussed his extensive background in tech and crypto leading up to his time with LQwD FinTech.
“I’ve been in tech for 25 years… I heard about crypto in 2011 and got involved in 2012, so I’ve been in the bitcoin area for quite some time,” he said. “In 2015, I co-founded a company called Blockchain Intelligence Group… We actually acquired a company called Netcoins.ca… It is now Canada’s first publicly traded crypto exchange that actually has a license from regulators as of a few weeks ago… I’m still there as a director and a large shareholder, but I’ve been involved in LQwD and the Lightning Network for the last two years. We’re working where I like to be – on stuff that’s cutting edge and about to become mainstream over the next few years. That’s the Lightning Network itself.”
Anstey then provided an overview of the Lightning Network and detailed how it could revolutionize bitcoin transactions and the entirety of the crypto space.
“The Lightning Network is a solution to scaling bitcoin,” he continued. “Bitcoin, which is the anchor cryptocurrency for the entire crypto market… is backed by millions of computers doing bitcoin mining, which helps secure the network and make it really safe with an immutable ledger. But it can only handle so many transactions with its current technology – about seven transactions a second. The Lightning Network steps in there and scales it to the next level.”
“The Lightning Network is a mesh-style network, very similar to how the internet functions. It’s made up of a series of nodes – computers and servers – and on those nodes you run open-source Lightning Network software,” he added. “That Lightning Network software creates payment channels to other companies running Lightning Network software… This whole mesh network happens around the world. There’re now 60,000 nodes and all kinds of payment channels that have been growing very, very quickly over the last number of years. This year alone it’s increased by about 182% since January… This whole interconnected mesh network… allows transactions to find a place very quickly with very low fees. It’s designed for massive volume… You’re seeing the uptick with countries like El Salvador taking on bitcoin as a national currency. The Lightning Network is one of the catalysts to make that happen.”
Join both Shone Anstey, Co-Founder, Chairman and CEO of LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF), and Jonathan Keim, IBN’s Director of Communications, as they discuss the long-term applications and potential for crypto, the benefits of LQwD’s position as a publicly traded company and the company’s business model relating to bitcoin investing.
To hear the entire episode, please visit: https://www.CryptoCurrencyWire.com/CryptoNewsAudio