Lightning Network Apps (LAPP) Review: Blockstream Opens FileBazaar?
Lightning Labs, a blockchain scaling company has secured $2.5 million USD in seed funding from a variety of investors which includes Twitter CEO Jack Dorsey. The popularity of Lightning Lab has been soaring, with over 2000 channels actively operating with investment in the technology pours in.
They had announced the release of Lightning Daemon, a platform that enables peers to open payment channels between one another. Another Lightening app, Blockstream’s release can be said to be an iteration on their pioneering debut of Blockstream Store, which was a Lightning-enabled marketplace. It had attracted criticism from some well-known Crypto personalities due to immature state of the technology. FileBazaar allows creators to conduct business independently online.
The Hive, a venture fund focused on co-creating enterprise AI application startups has said that Lightening Labs is poised to change trade in a 3-5 year timeframe. The product has abilities to contract and swap assets and liabilities across enterprise supply-chains. New rails of tokenized assets and liabilities will flow across industries with enterprises serving as just a mere service provider with no assets or liability directly under their management. This offers an alternative to the current system with layers of opaque asset-liability management driven by enterprises with services from financial institutions and oversight from regulators.
We can already see parts of this economic model in action with shared economy applications such as Uber and AirBnB. Such service providers compete on the yields created on the flows for market share in a far more transparent, elastic and open marketplace. This decentralized management of assets and liabilities has the potential to disrupt most traditional industry.
If Lightning Labs capitalizes on the opportunity to build the rails for the assets involved to flow through a chain of swaps terminating in equity or fixed income tokens and return the yields to end investors, then they will surely be on the way to fundamentally disrupt Global trade.