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Jack Mallers announces Bitcoin integration on Shopify, and you can pay at thousands of merchants

Alex Coin
April 8, 2022
Reading Time: 4 mins read
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What is Bitcoin?

Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.

At the Miami Bitcoin 2022 conference, Mallers made an announcement that was highlighted as momentous: the integration of Shopify for Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. Lightning Payments.

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***

The CEO of Strike, Jack Mallers, revealed yesterday afternoon, at the conference Miami Bitcoin 2022, a series of high-powered partnerships for the network Lightning de Bitcoin . These include an integration with the e-commerce giant Shopify.

According to him, this is how Bitcoin “will be able to enter”. millions of U.S. storefronts because it will be possible to pay through Lightning Network a network refers to all nodes in the operation of a blockchain at any given moment in time. . In fact, according to Mallers, any website that uses online card transactions ofShopify you can now process payments using Lightning Network de Bitcoin . The partnership is active at the moment and is a big step towards the mass adoption of Bitcoin .

Mallers said Strike partnered with NCR, the world’s largest point-of-sale (POS) provider and payments firm Blackhawk.

Mallers, who is a fervent bitcoiner a person who is bullish on Bitcoin. and advocate for Lightning Network said that his “King’s Gambit” (referring to a chess move) would bring back Bitcoin to their payment roots.

“If we can help make the Bitcoin network more accessible and usable, we believe we can change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. the world.” , dijo.

Take advantage of Bitcoin as an inexpensive payment network is central to that, he said, contrasting it with the history of “comer caviar” of credit cards issued by boomer banks, which he says hasn’t innovated (beyond the addition of intermediaries and their fees) in years.

“There hasn’t been since 1949 a superior payment network that allows us to innovate.” for consumers, he said. “Let’s build the superior payment network from the ground up.”

During the presentation, a slide appeared that listed some of the largest U.S. retailers, including McDonald’s, Walmart, Home Depot y Best Buy . According to their sites web, Blackhawk y NCR also provide services to Starbucks, Chipotle, El Corte Inglés, Lowe’s, Staples, Woolworths and thousands of other global retailers.

It is not yet clear when and how some of these retailers will begin to accept Bitcoin . However, Maller claims that more than 400,000 storefronts will now accept Bitcoin by means of Lightning Network.

Strike y Shopify

Mallers said the solution was simple: Lightning Network de Bitcoin “has all the properties” for local success.

“The Strike integration allows Shopify merchants to diversify their existing payment options and reach global markets and untapped purchasing power. The Strike integration also allows Shopify merchants to generate savings through low-cost payment processing. By instantly converting Bitcoin (BTC) payments to dollars, Strike eliminates certain complexities merchants face when holding Bitcoin. “, said a press release.

El anuncio de Maller podría impulsar una explosión en la adopción generalizada de Lightning Network .

“It’s about America and we need to protect our ability to innovate. “, Mallers said.

“I’ve also been working with legislators to ensure that we have the right to build freely in this country.” said, adding that he has been working with bitcoin-loving Sen. Cynthia Lummis (R) of Wyoming on such legislation.

It is not the only one

It is worth remembering that in recent weeks, Robinhood, Kraken y Bitpay bitPay is a Bitcoin payment service provider. have integrated Lightning Network.

According to Mallers’ presentation, retailers will be able to receive Bitcoin de los clientes y convertirlo instantáneamente en fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. sin cargos ni demoras en el procesamiento. Cualquiera que sea la moneda en la que el minorista desee liquidar sus pagos “no matter” , según él.

The news was applauded by various spokespeople in the crypto community. For example, influencer Anthony Pompliano wrote:

“Strike CEO @jackmallers and Strike just announced partnerships with Shopify and other leading payment providers.

Hundreds of millions of people can now spend bitcoins or dollars through the Lightning Network instantly, completely free at all major U.S. retailers.”

Strike CEO @jackmallers and Strike just announced partnerships with Shopify and other leading payment providers.

Hundreds of millions of people can now spend bitcoin or dollars across the Lightning Network instantaneously, completely for free at every major US retailer.

— Pomp ???? (@APompliano) April 7, 2022

Mallers has made other announcements before that have been applauded by the community, such as the integration of tips Bitcoin and Twitter.

Sources: Coindesk , Cryptoslate , archivo

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Alex Coin

Cryptoinvestor. I follow the world of cryptocurrencies. Looking for the most relevant and significant news for you :)

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