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Jack Mallers, the CEO of Strike, said in Miami that Bitcoin will be available through the Lightning Network to more than 400,000 stores and all US Shopify sites.
Lightning Network wallet Strike from Zap's Jack Mallers has teamed with Shopify, NCR and Blackhawk Network to bring Bitcoin back to its roots.
Shopify's online card transactions can now be processed via Bitcoin's Lightning Network, according to Mallers. Now that the collaboration is up and running, Bitcoin is one step closer to becoming widely accepted.
“Any online merchant that uses Shopify can accept payments without the 1949 boomer network, receive it instantly, cash final, no intermediary no 3% fee”
During the presentation, a slide came up that listed some of the biggest retailers in the United States, like McDonald's, Walmart, Home Depot, and Best Buy. According to their websites, Blackhawk and NCR also work with Starbucks, Chipotle, El Corte Ingles, Lowe's, Staples, Woolworths, and a lot of other retailers around the world.
We will have to wait for more information to figure out when and how some of these stores will start taking Bitcoin. However, Maller says that more than 400,000 stores will now accept Bitcoin through the Lightning Network, which is a new way to pay for things.
The Lightning Network has been adopted by more people than ever before.
It has been a few weeks since Robinhood, Kraken, and Bitpay have all added the Lightning Network to their services. It's called the Lightning Network, and it's a layer two solution for the Bitcoin blockchain. It uses smart contracts to settle payments quickly with very low fees.
It encourages people to use Bitcoin as a digital currency, not just as digital gold. There has been a lot of talk about how Bitcoin can act as an inflation hedge and compete with gold.
The Lightning Network lets Bitcoin grow so big that it can also compete with every other currency on the planet. A company that settles payments right away and charges very little is hard to compete with. Maller has just made a big move toward using cryptocurrencies as a way to pay for things in the real world. Twitter CEO Jack Dorsey has publicly said that he likes Mallers' presentation, and a lot of people have said the same.
thank you @jackmallers. you're an incredible inspiration.
— jack⚡️ (@jack) April 7, 2022
Strike CEO @jackmallers and Strike just announced partnerships with Shopify and other leading payment providers.
— Pomp 🌪 (@APompliano) April 7, 2022
Hundreds of millions of people can now spend bitcoin or dollars across the Lightning Network instantaneously, completely for free at every major US retailer.
Mallers was highly critical of the traditional financial system and its lack of innovation”
“There’s not been since 1949 a superior payments network that allows us to innovate, build on financial inclusion, offer cheaper services faster services. My grandfather used the same technology as I do. That’s not American, that’s bullshit.”
As he said in his presentation, retailers will be able to get Bitcoin from customers and convert it into money right away without paying any fees or waiting for it to be processed. According to Mallers, it doesn't matter which currency the retailer chooses to pay their bills in.
As of now, the price of Bitcoin hasn't changed at all because of this news. A lot of people might think that it's way too big and way too good to be true. People usually don't use this scale right away, and it usually doesn't. Has Bitcoin finally made it into the mainstream, or will retailers put a lot of pressure on the price of Bitcoin?
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