- The company has seen positive growth over the last seven days, increasing channels and value within the nodes active in The Lightning Network
- LQwD has opened itself for the international market – with Germany and Singapore nodes opened recently
- The European and Asian markets are only the first steps to the company’s goal of becoming the number one Lightning Network facilitator
Three prominent United States Senate members have introduced a bill that stems from El Salvador’s adoption of Bitcoin as a legal tender. The Accountability for Cryptocurrency in El Salvador (“ACES”) Act would require a State Department report on El Salvador’s adoption of the cryptocurrency and a plan to mitigate the potential risks it imposes on the United States’ financial system. The Senators presenting this bill include Jim Risch (R-Idaho), Bob Menendez (D-New Jersey), and Bill Cassidy (R-Louisianna).
“El Salvador recognizing Bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests. If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head-on,” Cassidy explained the reasoning behind the bill (https://ibn.fm/txbn2).
If the bill passes, the State Department report would require:
- A detailed analysis of El Salvador’s adoption of Bitcoin as legal tender and the risks for cybersecurity, economic stability, and democratic governance in the country
- A plan for the United States to mitigate the potential risks to the United States financial system
Aarika Rhodes (D), a United States congressional candidate for California’s 32nd District looking to unseat current Congressman Brad Sherman (D-California), does not share the same opinion of cryptocurrency as the Senate members calling for the ACES Act. She sees bitcoin as a way for economic justice. “Do I love the Lightning Network? Absolutely, I think it is the future,” she said (https://ibn.fm/fIoJK).
The Lightning Network, which can be followed at https://1ml.com/, is a layer 2 payment protocol on top of the blockchain-based Bitcoin cryptocurrency. Using The Lightning Network enables scalability, faster payments, lower fees, and cross-blockchain transactions. One company focused, in particular, on bringing more exposure to The Lightning Network is LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology organization working to create an enterprise-grade infrastructure to drive bitcoin adoption.
The company has three active nodes on The Lightning Network presently – United States, Germany, and Singapore. All three nodes have seen significant growth since becoming active, which further drives LQwD to procure more nodes for its platform as a service (“PaaS”) offering.
LQwD – US – West (four months old, as of February 21, 2022):
Over the last seven days (as of February 21, 2022):
- Capacity Change: 0.427694 BTC (USD$16,484.45)/up 8.72%
- Channel Count Change: 4/up 4.55%
Over the last 30 days:
- Capacity Change: 2.364466 BTC (USD$91,132.7)/up 79.7%
- Channel Count Change: 28/up 43.75%
LQwD – Germany (20 days old, as of February 21, 2022):
Over the last seven days:
- Capacity Change: 0.460000 BTC (USD$17,736.07)/up 4,600%
- Channel Count Change: 12/up 1,200%
LQwD – Singapore (16 days old, as of February 21, 2022):
Over the last seven days:
- Capacity Change: 0.685500 BTC (USD$26,465.32)/up 1,371%
- Channel Count Change: 18/up 900%
The recently launched nodes in Germany and Singapore allow LQwD to enter the European and Asian markets, and with all three nodes active, the company maintains its commitment to facilitate faster transactions and provide lower fees for consumers. LQwD shares congressional candidate Rhodes’ view on The Lightning Network being the future, being confident that the Network will become a force for change worldwide and the global monetary exchange of the future, amid cryptocurrencies’ continued growth in popularity.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF
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