2024-01-26 –, Btrust Stage
The Lightning Network (LN), a second-layer solution to Bitcoin’s scalability issues, represents a vibrant frontier for immediate, low-cost, and secure transactions. Our discussion, “Building a Parallel Economy with the Lightning Network,” aims to unveil the vast potential of LN in fostering a resilient, inclusive, and decentralized economic infrastructure that empowers communities worldwide.
This talk will begin with a brief introduction to the Lightning Network’s functionality and its significance in the broader Bitcoin ecosystem. It will further delve into LN’s role in enabling quick microtransactions, which are essential for a thriving, inclusive parallel economy. Attendees will glean insights into how the LN facilitates trade, remittances, and financial access in areas where traditional banking structures are inadequate or non-existent.
I will cover various case studies showcasing different communities that have ingeniously leveraged the Lightning Network to establish self-sustaining economic models. These stories will underscore the LN’s transformative potential in enhancing self-sovereignty, financial independence, and community resilience.
This engaging and informative session is intended for enthusiasts from all walks of life, from Bitcoin novices to seasoned professionals. The ultimate goal is to, foster a deeper understanding of the Lightning Network’s unparalleled potential in building parallel economies that are robust, inclusive, and genuinely decentralized.
Learning Objectives:
1.Understanding the fundamentals and operations of the Lightning Network.
2.Exploring the potential of LN in facilitating microtransactions and financial inclusivity.
3.Highlighting real-life applications of the LN by community champions and organizations.
4.Discussing the future prospects and challenges of building a parallel economy with the LN.
Kudzai is a Bitcoiner (Class of 2013) and entrepreneur in the crop insurance space. A passionate Bitcoin educator and financial inclusion advocate with Looking Glass Education, who is a regular Bitcoin Magazine Contributor. He was recognized by Fast Company magazine in 2017 as one of South Africa’s top twenty young entrepreneurs under 30 and he is also a Mandela Washington Fellow and an Obama Africa Leader.