RE: Goodbye Middlemen - Become your own Central Bank

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Goodbye Middlemen - Become your own Central Bank

in bitshares •  6 years ago 

Yep, the PalmPay point of sale system (palmpay.io) is adding atomic swaps and payment channels on interledger protocol as we speak. This means that merchants won't have to rely on centralised exchanges or bridges anymore either, and of course the Bitcoin Lightning Network will be natively supported (amongst many others) as well.

As for the BTCLN:BTS token, a smartcoin/mpa would be great for that too, someone just needs to create it and get its liquidity moving so a market can form around that pair.

Atomic Swaps are the future. Byebye CEX's. :)

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Why bother with BTC LN? The concept of LN is a settlement layer outside of the blockchain, and not required with fast assets like BTS. Plus, such settlement channels require setup, funding and add complexity and middlemen that charge fees. I don't understand why any business would want to invite a middleman into its' supply / payment chain except those that don't understand how the blockchain is the ultimate ledger and settlement layer.

With HTLC/ACCS and ILP support though, PalmPay is the most decentralised point of sale system in the world and does not care what coin the customer wants to pay with. Nore more CEX's. It's as chain-agnostic as we can make it, so for the people who like BTC LN, we say Welcome :)