June 15 (Cointime) -Obi Nwosu, a long-time Bitcoin advocate, is developing a new project called Fedi with the goal of promoting mass adoption of the cryptocurrency. Fedi's approach involves "Federations," which allow communities to maintain control over their finances, data, and digital lives while safeguarding privacy and autonomy. Recently, Fedi launched a pop-up federation at BTC Prague, providing exclusive features such as access to event schedules, Lightning Network-based sats transfers, and chat messaging.

Nwosu believes that Federations can attract one billion new users, particularly as the cost of on-chain transactions increases. Fedi CEO Kingsley Advani Nwosu has explained how Federations can reduce payment routing costs by sharing the expenses of channel rebalancing among all users. He also noted that Federations can be appealing to businesses because they offer spending controls and can be customized to meet complex needs. Fedi's open-source platform, Fedimint, charges a small fee for each transaction, which Nwosu believes will be reasonable and can enhance the user experience.