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LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Leverages Lightning Network to Facilitate Micropayments Across 17 Countries
August 23, 2022

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Leverages Lightning Network to Facilitate Micropayments Across 17 Countries

  • LQwD’s BTC capacity on The Lightning Network exceeds 30 BTC with over 300 payment channels operating across 17 countries with plans to expand to 24 countries by the end of the current quarter
  • The debut of Bitcoin occurred during the recession of 2008 by an anonymous individual or group later named “Satoshi Nakamoto”
  • The fractionalized form of bitcoin is named after Nakamoto, with 1 satoshi equivalent to 0.00000001 BTC 
  • The cryptocurrency market value is expected to reach US $4.94 billion by 2030

LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive Bitcoin adoption, has been operating on The Lightning Network since November 2021, amassing a capacity of over 30 BTC with more than 300 channels facilitating BTC transactions for micropayment users. The current BTC capacity of The Lightning Network has exceeded 4.5k BTC to date (over US $110,000) (https://ibn.fm/Ftopd). LQwD currently has a network of 19 nodes spanning 17 countries and plans to increase to 24 by the end of the current quarter.

The concept of Bitcoin appeared in 2008, when the domain name “Bitcoin.org” was registered. In October 2008, an individual or group assuming the name Satoshi Nakamoto announced the “Cryptography Mailing List,” which has become the infamous white paper of the registered domain and the standard in which Bitcoin operates today. 

The first bitcoin block was mined on January 3, 2009 and is most commonly known as “Block 0” or the “genesis block.” The block contains the text, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks,” – providing proof that the block was mined on or after that date and set the tone for the introduction of cryptocurrency as a viable alternative in the wake of the recession (https://ibn.fm/gv5hY).

Although anonymous, Satoshi Nakamoto has become synonymous with the inception of Bitcoin and decentralized currency. The fractionalized form of bitcoin is named after the mysterious creator and can be sent or received in increments of 0.00000001 BTC, equivalent to 1 satoshi. The Lightning Network has allowed users to complete payments using the layer 2 protocol quicker than traditional blockchain and even faster than some of the world’s leading institutions. Payments made using The Lightning Network offer faster settlement times, cheaper fees, and higher levels of security than their centralized counterparts. 

Growing public interest has led to an increase in the global cryptocurrency market size, from US $1.49 billion in 2020 to an estimated US $4.94 billion by 2030, experiencing growth at a CAGR of 12.8%, according to Allied Market Research. With the increased need for operational efficiency and transparency in financial payment systems, implementing cryptocurrency as a viable monetary solution appeals to developing and underdeveloped countries worldwide (https://ibn.fm/b0Z1W).

LQwD is at the forefront of this movement, leveraging its Bitcoin assets to drive further adoption of The Lightning Network. With the assistance of its proprietary platform as a service (“PaaS”), users can send payments instantly, securely, and inexpensively anywhere in the world.

For more information, visit the company’s website at www.LQwDFinTech.com.

NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF

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