Jack Dorsey: Integration of the Lightning Network into the Squares Cash App – a matter of time

The head of Twitter and Square Payment service, Jack Dorsey, said that he considered it only a matter of time to integrate the Bitcoin microtransaction protocol into the Cash App, Cointelegraph reports .

He said this in an interview for a podcast about Bitcoin, which is conducted by Stefan Leiver. Elizabeth Stark, CEO of Lightning Labs, was another interviewee for the presenter.

SLP52 @jack (CEO @square ) & @starkness (CEO @lightning ) – Bitcoin: Native Currency of the Internet

Enjoy the podcast, and please share! https://t.co/lC7uP3XDQZ

– Stephan Livera (@stephanlivera) February 11, 2019

In particular, answering the question about the possible implementation of the Lightning Network in the Cash App, which in December 2018 became the most popular financial application on Google Play, Jack Dorsey said:

“We want to create a huge trading network of very different enterprises […] We would like to see Bitcoin payments to be fast and efficient … The question is not“ if ”, it is a matter of time.

Dorsey, who had previously stated that Bitcoin will become the native currency of the Internet , also spoke about his admiration for the early movement of encryption and how he became acquainted with the “stunning, simple and beautiful” white paper bitcoin. It happened in 2013, when Square was also only at the very beginning of its journey. He also stressed that he puts Bitcoin alone in comparison with other Altcoins.

“It seems to me that this [Bitcoin] is exactly what is best for a currency. This is when compared with other [cryptocurrencies] that offer more general things or distributed computing. I think this [altcoin space] has generated a lot of great ideas, but I focus on the currency and transactional aspect, ” said Dorsey.

According to the results of the third quarter of 2018, Square's profit from the sale of Bitcoin was $ 43 million, while in the previous quarter this amount was $ 37 million . In addition, in November, Square bypassed Twitter.

In January, 2018 Square made the purchase and sale of Bitcoin available to almost all US citizens, with the exception of Wyoming, New York and two more states. However, already in June, Square received BitLicens e, a special license that allows them to operate in New York State, and in August announced that this opportunity is available throughout the United States.

In addition, last year, Square patented a blockchain technology for fast cryptocurrency payments, and also released the source code for offline storage for bitcoins.

Jack Dorsey himself took part in the Lightning Torch relay last week, designed to demonstrate the simplicity and convenience of the protocol to the public.

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