Well-known crypto defender Adam Back was interviewed about the developments on The Lightning Network and its impact on the Bitcoin ecosystem.Regarding the global adoption of the cryptocurrency, Back claimed that countries with historically and relatively low inflation rates are now in higher inflation expectations.

As a result of the above mentioned expectation, Back added that citizens in these countries bought the Swiss franc for protection against depreciating local currencies.In the long run, he believes that any governments endeavor to stabilize will adversely affect peoples spending power, erode savings and lower its yields. He further commented that Bitcoin is one of the few places around it that has some interesting results.

The amount invested for a Bitcoin futures account will be paid in fairly high interest rates (5-10%), meanwhile, most banking institutions have fallen mainly below 1 percent in euros or US dollars.

Even though Bitcoin sees it as a highly volatile asset, Adam Back drew attention to the importance of allocating a 5 percent portfolio allocation to BTC, stating that it could potentially double the value of its portfolios.

He also stressed that Satoshi was initially active in various forums to ensure the adoption of todays dominant cryptocurrency.

Adam Back also said,

The idea that the protocol shouldoften be unchanged was also in one of the first tasks.I think he made some interesting predictions that were obviously remarkably good at sight.

He also spoke about the fact that Bitcoin imitates gold when it is used as a competitor to traditional money.

Abigale is a Masters in Business Administration by education. After completing her post-graduation, Abigale jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor at Our Bitcoin News.

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Bitcoin moves towards the foresight of inventor Satoshi Nakamoto - OBN