Square CEO Jack Dorsey Says Bitcoin's Lightning Is Coming to Cash App

gepubliceerd op by Coindesk | gepubliceerd op

A bitcoin scaling solution called the lightning network may soon come to Square's Cash App for mobile payments.

Twitter and Square CEO Jack Dorsey, an investor in the bitcoin-oriented startup Lightning Labs, recently announced during an interview with podcaster Stephan Livera that there are plans to integrate the scaling technology with Square's mobile app.

Stepping back, in 2018 Cash App reportedly had 7 million monthly active users.

On February 5, Dorsey joined a game called the Lightning Torch where each participant adds a little bitcoin to a payment, then passes it onto someone on Twitter that they trust.

"What I think was so powerful about the torch was that it showed how quickly Lightning enables you to send money, across the internet, anywhere around the world. We're doing to money what the internet did to information."

With regards to lightning features coming to Cash App, Stark seemed to confirm Dorsey's statements.

An independent lightning fan named Sergio Abril has created the micropayments browser extension Lightning Tippin, which Stark briefly mentioned on the podcast.

"I'm excited to see more examples of people earning money with lightning as well," Stark told CoinDesk, referencing both Tippin and the lightning-powered freelance jobs site LND Work.

Abril told CoinDesk he would love it if Cash App integrated or interacted with his payment project and others like it.

"They have the power to bring lightning to the masses and turn it mainstream, there is no doubt about it."