LN Will Be Used to Transfer Funds from Africa to the European Union
The Lightning network is planned to be used to facilitate the transfer of funds from Africa to the European Union.
Despite the dominance of bearish sentiment in the industry, the developers of the initiative have decided to contribute to the formation of the global Bitcoin infrastructure. With the help of such a “bridge”, it is planned to carry out operational transfers involving several fiat currencies.
Most transactions between Africa and the EU are processed by Western Union. At the same time, the demand for sending funds with minimal transaction costs is constantly growing.
As a result, the Lightning Network will be used so that Bitcoin transactions are processed outside the base blockchain. With the help of cryptocurrency, users can transfer euros or British pounds and convert BTC into the currencies of Nigeria, Ghana and Kenya.
