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Will Bitcoin Lightning Lightspark Turn Bitcoin Into a Global Payment Network?

Ex-PayPal executive David Marcus thinks so and is investing in the Bitcoin Lightning Network.

Will Bitcoin Lightspark may make BTC a global payment network.
Credit: Shutterstock. Copyright 2021 Sittipong Phokawattana/Shutterstock.

Former PayPal and Facebook executive David Marcus is on a mission to transform Bitcoin into a global payment network through his company, Lightspark. In a recent interview with CNBC, Marcus outlined his vision for the future of Bitcoin and the Lightning Network.


Lightspark


Lightspark is focused on building payment solutions for Bitcoin's Lightning Network, which Marcus believes can revolutionize global payments. He likened the current state of global payments to the "fax era," highlighting the limitations of popular payment services in supporting international and cross-application transactions.


Marcus emphasized the vast potential of international transactions, describing them as an enormous business opportunity involving trillions of dollars. Unlike many online services that offer universal accessibility, current payment systems fall short in providing seamless cross-border transactions.


Bitcoin Lightning


One of the key aspects of Marcus' vision is the role of Bitcoin Lightning as the ultimate settlement layer. He believes that Bitcoin itself may not be the primary currency for everyday purchases. Instead, Bitcoin Lightning can serve as the settlement layer, facilitating real-time, low-cost transactions. This approach also allows for easy currency exchange, including dollars, yen, and euros, at the network's edges.


While Marcus didn't explicitly specify whether this functionality is a feature of Lightning or part of Lightspark's project, his enthusiasm for Bitcoin Lightning's potential was evident.


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