Strong Federations and SidechainsIn order to function, a Liquid Network requires explicit trust of a group of parties, governance guarantees whereby you have rule adherence and a network of many participants responsible for network consensus.While accelerating trading in bitcoin, this system will build an infrastructure that leads to a “trustless” exchange for users.Best use cases include cryptographic assets, central bank currency issuance, land titles/registries, credit issuance and settlement between large institutions.Mow noted that what Lightning Networks can do for smaller transactions, the Liquid Network can do for larger transactions between companies and exchanges.Currently, Liquid Beta participants include Bitso, Bitfinex, Bitt, BTCC, Coins.ph, Streami, Paycase, The Rock Trading, Unocoin and Zaif. Discussions continue with other partners.Bank of Canada Is Interested in Liquid NetworksWhile in Ottawa, Mow and Weinberg met with representatives from the central Bank of Canada. Weinberg told us:“We met with the Bank of Canada and had some great discussions with them about blockchain technology, and use cases and systems like Paycase's cross-border transaction platform Traverse and Blockstream's Elements platform.“There is a sense that the media misrepresented the Bank’s recent comments on the Jasper experiment, which was actually a well-balanced and accurate assessment of the technologies they've trialed to date. I think they're still very much interested in evaluating blockchain technology.”Weinberg added: “We are also working on other sidechain initiatives that leverage strong federations and confidential assets via the elements project both in Canada and globally that require multi-participant governance guarantees and explicit trust.” He added that they are excited going forward, not just about Liquid Networks but the whole interoperation and weaving of different technology stacks in the ecosystem to enable new use cases and leverage all the great layers of the blockchain stack that are being built around the world.The post Samson Mow Introduces Liquid Networks' at Blockchain Forum in Canada appeared first on Bitcoin Magazine (https://bitcoinmagazine.com/).
