SoFi: A Transaction, and Its Shadow

SoFi has introduced a system for cross-border payments, leveraging the infrastructure of Lightspark, an entity founded by a former functionary of Meta Platforms. The arrangement appears straightforward on the surface, but simplicity is often the most elaborate of deceptions. It is a transfer of value, certainly, but value, as any diligent observer knows, is a fluid concept, constantly shifting its form, and susceptible to the whims of unseen administrators. The system utilizes the Bitcoin Lightning network, a Layer-2 protocol that promises swift and inexpensive transactions. One suspects, however, that ‘swift’ and ‘inexpensive’ are relative terms, dependent on the arbitrary parameters established by those who control the network.







