An Australian entrepreneur could become a key contributor to the future of Bitcoin by transforming the coin into a tool that will push for economic inclusivity around the world.
Craig Wright is looking at building a global payment system on the back of the cryptocurrency, turning BTC into a medium for international transactions.
Harnessing Bitcoin
Wright, who is also a computer scientist, aims to create a technology that would enable him to scale up Bitcoin with the help of TerraNode.
If successful, TerraNode would allow BTC to be used in daily transactions, increasing the coin’s appeal to investors and consumers.
According to Wright, he envisioned TerraNode as a system that would make global borderless payment possible which is run with the help of Bitcoin.
The first phase of this vision is already in motion.
After years of groundwork, we’re scaling Bitcoin’s system to a level where it will never hit a limit.
This isn’t about waiting until demand forces us to expand. It’s about preemptively building an infrastructure that can…
— S Tominaga (@CsTominaga) November 3, 2024
With TerraNode, we’re creating a system designed to scale infinitely, where capacity is not a constraint. […]. No more waiting for improvements as demand surges, no more fee hikes that price out users, he said.
The Aussie entrepreneur revealed that the first phase of the system’s development is ongoing, saying, “The first phase of this vision is already in motion.”
He added that after spending years developing it, he can now bring BTC to what he says is “a level where it will never hit a limit.”
The businessman said the move is essential because he does not want to wait until the demand for BTC would force him to expand it. “It’s about preemptively building an infrastructure that can handle a
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Author: Christian Encila
