How Fedimint Scales Bitcoin with Obi Nwosu - WBD657

Obi Nwosu is a co-founder of Fedimint and a board member of Jack
Dorsey’s and Jay-Z’s ₿trust. In this interview, we discuss the
mission of Fedimint: empowering communities around the world by
allowing them to take control of their money. We also talk about
the importance of trust models in relation to storing Bitcoin in
Fedimint.


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It’s hard to believe that Fedimint is only 2 years old. Its
development is a regular topic of exciting conversation within
the community. It is one of a number of important projects that
are leading many to believe we’re on the cusp of a wave of
innovation within Bitcoin: Blockstream Developer Neigut expects
there will be a ‘Cambrian Explosion’ of Bitcoin Layer 2 Protocols
in the future. 


Obi Nwosu came back to provide some valuable demonstrations of
how Fedimint will work in practice. Lightning transactions,
encrypted chat and offline payments are just an example of the
developments that the Fedi team have been working on bringing to
the Fedimint protocol. All of these back and reinforce the
Chaumian mint functionality and multisig custody solution on
which Fedimint is predicated.


It is now garnering interest from those looking to use it in
anger, with a number of Beta applications being tested. Once
officially launched, it has the potential to democratise access
to financial systems for millions of communities, providing
efficiencies and cost savings currently out of reach. Further, it
can make the Lightning Network more efficient whilst opening up
access to Bitcoin.