Jack Dorsey, the co-founder and CEO of Twitter as well as of the Bitcoin supporting payment service, Square, has confirmed that Square’s Cash app will be supporting Bitcoin’s lightning network.
This news is well received among members of the Bitcoin community and proponents for the lightning network, as it would allow for near-instant and practically feeless Bitcoin payments for use by the mainstream.
Dorsey shared this revelation during an interview on the Stephen Livera podcast on February 11, where he along with Elizabeth Stark, the co-founder of Lightning Labs, spoke about Bitcoin, the lightning network, the future of internet business models, and more.
When asked about Bitcoin’s lightning network being integrated into Square’s popular Cash App, last December’s most often-downloaded finance app on Google Play, Dorsey responded by saying:
“We have a massive seller network of businesses [of different sizes] […] We would love to make [Bitcoin payments] as fast and efficient and transactional as possible and that includes looking at our seller base and our register. It’s not an ‘if,’ it’s a ‘when.’”
Dorsey is a well-known proponent for Bitcoin and has been vocal about this for quite some time. Last year, he made headlines when he proclaimed that Bitcoin could become the world currency through widespread adoption and acceptance on the internet.
Also, more recently, Dorsey went on the popular podcast “The Joe Rogan experience” and stated that he believes Bitcoin (BTC) will be the currency of the internet.
Not only does he believe this, but he’s determined to help make this happen by supporting Bitcoin payments on the popular Cash App and confirming the eventual integration of Bitcoin’s lightning network.
Moreover, during the recent podcast, Dorsey explained why he thinks Bitcoin will be the currency of the internet over other cryptocurrencies. Bitcoin, he claims, has a unique resilience, spectacular brand attraction, and greater desire to be a currency than competitors.
“It feels it’s the one that wants to be currency the most, versus others that are doing more general purpose things or distributed computing […] I think [the altcoin space] has generated some really amazing ideas, but I’m focused on currency and the transactional aspect.”
Do you think Bitcoin (BTC) has the best chance at becoming a world currency? Let us know what you think in the comment section below.
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