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One of the most well-known mobile payment apps in the world will implement Bitcoin’s Lightning Network.
In an interview, Square CEO Jack Dorsey says he’s working with the Lightning Labs team to bring the LN to Square’s Cash App. LN is a layer-2 solution designed to speed up BTC’s transactions and address one of the most criticized aspects of Bitcoin, which is its transaction speed.
Appearing on Stephan Livera’s Bitcoin Podcast, Dorsey says making Bitcoin more transactional is a high priority, and that it’s only a matter of time before the company integrates the technology to make it faster and easier to use Bitcoin for purchases.
“We’ve been exploring with Elizabeth and the Lightning team…
We would love to make it 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 more of a ‘when’. And how do we make sure we’re getting the speed we need and the efficiency. A lot of what we’ve worked on the seller side is making transactions as fast as possible.”
Dorsey says the app has already gone a long way toward exposing Bitcoin to users around the globe, and giving them a way to spend BTC using the company’s Visa debit card.
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