400,000 resellers able to get paid in Bitcoin thanks to Lightning Network
While the conference is taking place Bitcoin 2022 in Miami, Strike founder and CEO Jack Mallers caused a stir on the Lightning Network. Strike is a wallet that allows instant payments between people thanks to an overlay of the Bitcoin network, the famous Lightning Network.
Jack Mallers’ speech was about an important collaboration between its portfolio, as well as Shopify, NCR, and Blackhawk Network. Which means in other words that no fewer than 400,000 stores will be able to accept Bitcoin.
And as if that were not enough, we find among these names McDonald’s, Walmart or Starbucks encore to give just a few emblematic examples.
To measure the weight of this announcement, it must be understood that NCR is one of the world leaders in cash registers and ATMs and that, for its part, Blackhawk Network, specializes in prepaid gift cards. As for Shopify, it is an ecommerce reference that allows you to easily set up your sales site.
If we still have only a few details to consider the full extent of the novelty, we can still say that all these brands will be able receive payments in seconds if they wish.
Jack Mallers also made it clear that all of this would be possible, regardless of the currency at the entrance and at the end of the chain. He also pointed out, in his own way, the lack of innovation in payment systems to date:
“Since 1949 there has been no superior payment network that allows us to innovate, to bet on financial inclusion, to offer cheaper services, faster services. My grandfather used the same technology as me. “
👉 Find our guide to buying Bitcoin (BTC)
Robinhood also joins the party
While previously it was only possible to buy and sell Bitcoins Robinhood app, even there a Lightning Network integration changes the situation. This paves the way for wallet swapping, a feature that has been promised since last fall.
However, note that this portfolio still remains limited outside of bitcoin. In fact, the digital wallet does not yet support ERC20 tokens from the Ethereum (ETH) network, with the exception of ETH itself, nor does it integrate non-fungible NFT tokens.
Despite everything, Robinhood’s product manager, Aparna Chennapragada, defends a strategic choice according to which BTC remains the platform’s first recurring purchase.
While Bitcoin’s Tier 2 has faced some criticism and a difficult start, it would appear that the wind is slowly turning. Of course, there is no guarantee that any of the brands mentioned above will actually use Lightning Network, but they will still be able to.
That said, here we have a technical solution that ties Bitcoin back to what it was created for: be a peer-to-peer means of payment. Beyond the safe haven aspect of the asset, perhaps 2022 will see the turning point from which the monetary use of the same will increase.
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Source: Bitcoin 2022 Conference
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