The Path to Bitcoin Finance: Bitcoin-Backed Credit🧵⬇️
The Bitcoin Finance will allow many functions to the Bitcoin and Lightning Network.
#bitcoin #LightningNetwork #taproot #taro #rgb #privacy #sidechains #bitcoincredit #bitcoinfinance
Remember Hal Finney in 2010
Hal Finney had a vision about bitcoin-backed banks could "issue their own digital cash currency, redeemable for bitcoins."The idea was based George Selgin’s Free Banking research.
Legacy System
Different thought the legacy system isn't:
-Competitive;
-Transparent;
-Hard Regulation;
Bitcoin Economy with Bitcoin Finance, layers and sidechains
-Transparent: The credits or loans offered over Bitcoin would be 100% transparent via timechain;
-Permissionless: No necessary KYC or trust someone;
-Non custodial: your keys, your sats;
-Better terms: Can have 0% APR.
Use Case
-Fuji Money: fuji.money
-Sovryn: sovryn.app/zero
-Debifi:debifi.com
-Taro: docs.lightning.engineering/the-lightning-…
-RGB:
Bitcoin Credit and Stablecoins
Despite the stablecoins be against Bitcoin ethos. If for used as collateral this function is great.
Tech to Circular Economy
Fuji, Sovryn and Debifi are in sidechains federated like RBTC and L-BTC. However, with the come of Taro and RGB, I believe will stay more easy create Bitcoin Credit for people around world. And also new options with Drivechains.
Conclusion
The Bitcoin-backed credit will help BItcoin have high adoption by the masses and countries. Following the same steps Satoshi and Hal Finney let.
Thread inspired by:
bitcoinmagazine.com/culture/decent…
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