Jack Mallers Reveals New Bitcoin Lightning Network Integration With Shopify
Strike CEO Jack Mallers has recently announced a new partnership with Shopify. This integration will allow over merchants and stores in the United States to accept Bitcoin payments through Lightning. This was announced at Bitcoin 2022’s conference in Miami. Thanks to this integration, it will be possible for LN and Bitcoin users to pay at a large number of shops in the U.S. and also other countries.
Jack Mallers Announces New Bitcoin LN Integration
Bitcoin continues to be adopted all around the world, and Jack Mallers is pushing for Bitcoin adoption. During the Bitcoin 2022 conference in Miami, the CEO of Strike announced a new integration that would allow online merchants using Shopify and more than 400,000 stores to start accepting payments using Bitcoin’s Lightning Network.
Some of the retailers that will be impacted by this measure include Walmart, McDonald’s and Home Depot, among others. It is also worth mentioning that the new partnership includes other two companies: Blackhawk and NCR. These two firms are serving other clients like Starbucks, Chipotle and El Corte Inglés, bringing Bitcoin to a large number of worldwide companies.
At the same time, Jack Mallers informed that he has been working with Senator Cynthia Lummis (Wyoming) in order to create legislation that will favour crypto and the whole industry. This is very important as regulators from all over the world have been pushing for stronger regulations on digital currencies.
Many in the cryptocurrency community expected Mallers to announce a new partnership with Apple or with Apple Pay. However, he ended up sharing his plans to bring Bitcoin to hundreds of thousands of stores in the United States and other countries.
One of the main differences between payments using digital currencies and traditional financial systems (i.e. Credit Cards) is that payments using these legacy solutions take many days to settle, even weeks. Additionally, it is necessary for these payment providers to rely on a large series of intermediaries in order to settle payments. This has a negative impact on merchants and consumers as these payments include a relatively large fee.
Thanks to the usage of the Lightning Network, payments can be processed in seconds and almost without fees. And this is something that Jack Mallers with Strike have been promoting over the last years. With this new integration, Shopify, NCR Corporation and Blackhawk Networks Holdings will be able to offer payments using Bitcoin to process payments rather than other payment solutions.
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