Macro investment strategist Lyn Alden says cryptocurrencies will revolutionize the international payments sector over the coming decades.
“International payments are going to look a lot different over the coming decades than they have in prior decades.
Regulated stablecoins, offshore stablecoins, central bank digital currencies, BTC, etc.”
The macro investment strategist was reacting to a report that Myanmar’s parallel government led by ousted leader Aung San Suu Kyi has designed the Tether (USDT) stablecoin as the official currency for local use.
“Chinese media is reporting that Myanmar’s government will now accept yuan in cross-border trade with China, while Myanmar’s parallel/ousted government is adopting Tether USD as per Bloomberg.”
Tether has 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 was being underestimated.
The Lightning Network is a second-layer technology atop the Bitcoin blockchain that enables faster and cheaper transactions than would otherwise be possible.
“I think people are sleeping on the potential importance of the Lightning Network over the next five years for the payments industry.
As BTC base layer fees climb, Lightning Network becomes more important. Apps/utility are starting to reach a critical mass, and liquidity can grow.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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