Denmark to provide humanitarian aid via cryptocurrency

Denmark will become the first donor country to move money using cryptocurrencies
15 December 2017   1827

Yesterday the Danish Foreign Ministry published a report, in collaboration with think tank Sustania and blockchain currency platform Coinify, which investigates how blockchain technology might solve problems in providing development aid.

Crypto and crisis is a perfect match, and aid organizations will undeniably be able to respond more quickly using blockchain-based digital money, which arrives at email-speed, safely and transparently.

 

Marianne Haahr

Project Director, Sustania

One of Europe's biggest virtual currency platforms, Coinify, is working on using cryptocurrency payments to scale off-grid renewable energy.

You will be able to pay with your cryptos directly into a solar panel situated in, for example, an African village and then you would not donate money but electricity.

 

Mark Hojgaard

CEO, Coinify

Another option could be an online hub where people would donate to single projects like schools, railroads or bridges. Smart contracts would ensure that the money went to its intended project.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   320

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.