BlackRock has the opportunity to disrupt not only gold but also payment processors like Visa, MasterCard and American Express, says Amboss CEO Jesse Shrader.
Amboss is interested in helping institutions utilize the Lightning Network to earn non-custodial yield and disrupt traditional payment processors, Shrader told The Block in a recent interview.
“I haven't seen that pickup from enterprise. I think it's still a bit early, but if they're thinking long-term about this, I would think that they would have a strategy for the Lightning Network,” he said. “We've become accustomed to mutual funds where the allocations of things change and those are managed. I would think some of those would behave just like Lightning channels where you've got an allocation of bitcoin to other users, an allocation to exchanges, an allocation to liquidity services and that's going to be actively managed.
Amboss initially sought to create an advanced node manager for Lightning Network but shifted its focus to developing a range of tools and services that address the needs of the Lightning Network ecosystem. For example, Lightning Network explorer Amboss.space provides data analytics and statistics to monitor the network's performance and enhance connectivity among nodes.
“Since we got all this data, what needs to happen now is we need to start analyzing it and so we've just made our first machine learning hire to actually dive into this because the Lightning Network is so complex and you need that advanced level of data analytics in order to make sense of it — what do I do, who do I open a channel to, how do I set my fees, when do I take the next action? So being able to deliver those insights for Amboss is critical,” he added.
“Bitcoiners were really interested in that one because it essentially made this fund able to choose which fork of Bitcoin to back and a lot of us are getting dark flashbacks to the fork wars of Bitcoin Cash and Bitcoin and figuring out which way this protocol is going to develop,” Shrader said.
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