The CEO of Twitter and Square, Jack Dorsey, has said that the company’s Cash App will integrate Bitcoin’s Lightning Network and that it’s only a matter of time for it to happen.
“When” Not “If”
Square’s mobile payment service – the Cash App, available for both Android and iOS, will eventually integrate Bitcoin’s scaling solution – the Lightning Network.
This was revealed by the company’s CEO – Jack Dorsey during a podcast held by Stephan Livera. The discussion called Bitcoin: Native Currency of the Internet also involved the CEO of Lightning Labs – Elizabeth Stark.
During the discussion, Dorsey said that LIghtning Network coming to Cash App is only a matter of “when” and not of “if.”
Commenting on LN integration, Dorsey outlined:
We have this massive seller network of small and medium, and large businesses. […] We would love to make it as fast and efficient, and transactional, as possible. That includes looking at our seller base and our register. It’s not an “if”, it’s more of a “when”. How do we make sure we’re getting the speed that we need and the efficiency.
There was also a brief discussion over the so-called “Lightning Torch.” As My Bitcoin News reported earlier today, Jack Dorsey recently became one of its recipients.
Cash App and Bitcoin
Square’s cash app announced state-wide support for Bitcoin trading in all of the US states in August last year.
Square also managed to acquire a BitLicense by the New York State Department of Financial Services (NYDFS).
Furthermore, the company’s advance in the field of cryptocurrencies, namely Bitcoin, propelled Square’s share prices. The total market capitalization of Square is currently higher than that of the social media giant – Twitter, according to data brought by Yahoo Finance.
Have you used Square’s Cash App? What about the Lightning Network? Share your thoughts down below!
Cover photo by Flickr