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Strike CEO: Bitcoin & Lightning Network to Disrupt Global Payments
Chief Executive Officer of payment app Strike, Jack Mallers, was interviewed on CNBC’s Power Lunch following his company’s Twitter integration on the newly launched tipping service this week.
Mallers is convinced that the recent partnership will leave a lasting impact in the global payments industry now that the Bitcoin Lightning Network will make instant cross-border transactions possible with zero fees. Sending money will be just like sending someone a message, Mallers said.
“We’re using Bitcoin to make tweeting at someone as easy as sending money to someone, anywhere in the world, any time, any place, any currency, it doesn’t matter… You have absolute payment disruption that’s been a long time coming.”
Mallers pointed to the power of Bitcoin as the world’s first currency that can change hands in an instant, regardless of your whereabouts. He further stressed that Bitcoin and the Bitcoin network should be considered as two unique and life-changing innovations. He said:
“Can the dollars that are sitting in my pocket land in another country in less than a second at no cost? No, how can any money do that? It has to be natively digital… That is the innovation of Bitcoin.”
He then added:
“There is a difference between Bitcoin the asset, it’s this commodity-like precious metal-like asset, and then there’s Bitcoin the network, [which] is a monetary network like the Visa network… and it achieves monetary functions on a global network, instant global cash finality.
In the Twitter Tips product, as it is today, as it’s rolling out as we speak, nobody’s touching Bitcoin… You don’t need to touch the asset to gain benefits from the network.”
The Strike CEO reportedly played a large role in El Salvador’s recent transition to becoming the first country to make Bitcoin legal tender.
Crypto wallet company Strike partnering with @Twitter today, allowing users to send tips in #bitcoin to other Twitter users. Strike CEO @jackmallers on what this means for #crypto adoption. $BTC $TWTR pic.twitter.com/YfoOMPxRtD
— Power Lunch (@PowerLunch) September 23, 2021
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Author: Peter Siu