TL;DR
- Craig Wright plans to turn Bitcoin into a borderless global financial system.
- The TerraNode project promises to scale Bitcoin infinitely and reduce transaction costs.
- TerraNode has been in development for 15 years and is planned to open to the public in the next decade.
Australian computer scientist Craig Wright, who calls himself the creator of Bitcoin, has revealed his vision for transforming the cryptocurrency into a borderless global financial system.
In his account on the X platform, Wright presented TerraNode, an infrastructure project for Bitcoin that promises to overcome current limitations of scalability and transaction costs.
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
Its goal is to turn Bitcoin into an accessible and practical financial tool, focused on everyday utility and not just speculation.
Wright and his team have been working on TerraNode for over 15 years, with the goal of completing it within the next 10 years.
According to the original source of the information, Wright claims that this technology will allow Bitcoin to scale indefinitely, eliminating the high costs and waiting times that currently affect users.
This advance, he argues, will create a system capable of supporting global demand without increasing fares or complicating the user experience.
TerraNode‘s purpose is to offer a platform where network capacity is not an obstacle, allowing for unprecedented growth that positions Bitcoin as a viable alternative to conventional financial transactions.
Wright explains that his primary mission is to help people connect to the global economy without the barriers imposed by traditional financial systems, and without high fees preventing their use.
A new global financial ecosystem from Craig Wright
In a recent post, project contributor S. Tominaga reaffirmed the importance of building an infrastructure that proactively responds to future needs, allowing Bitcoin to grow without limitations.
Tominaga stressed that this system is designed not only to meet current needs, but to exceed long-term demand expectations.
The vision behind TerraNode is clear: to build a system that offers fast and affordable transactions, and that is accessible globally, regardless of the location or economic level of the users.
This plan by Wright and his team not only aims to make Bitcoin a practical payment option, but also aims to change its perception as a speculative asset.
Instead of being a store of value for a few, Bitcoin would become a tool that allows people from any country to integrate into the global economy, thus promoting individual financial independence.
The development comes as Wright pursues litigation over the nature and control of Bitcoin, including a £911 billion lawsuit against BTC Core and Square, arguing that his vision respects the original principles of the pseudonymous Satoshi Nakamoto.
TerraNode represents, according to Wright, the next phase of Bitcoin’s evolution, oriented towards universal access that allows borderless transactions, strengthening an ecosystem where anyone can join the global economic flow.
