Rem9ja: Bitcoin Lightning Network Remittance Solution

Abstract

This paper is concerned with the efficiency and cost of the transfer of money across international boundaries, in small sums for the settlement of transactions of a personal nature. The paper aims to illustrate the inefficiencies in the existing methods of executing these payments known as remittances. It demonstrated the viability of utilizing a second-layer network built atop the Bitcoin network, as an alternative to the existing financial infrastructure.