Lightning adoption, cities embrace Bitcoin, and a retail revolution 🚀 Seven things we learned during day one of the Bitcoin2022 main conference 🔥
The first day of Bitcoin 2022's main conference did deliver some bullish news for investors — with companies unveiling new features that'll make it easier and cheaper to perform crypto transactions and stack sats.With Nayib Bukele pulling out of Bitcoin 2022 due to "unforeseen circumstances," there was plenty of expectation for Jack Mallers' keynote speech at the end of the day.
Predicting that these collaborations mean Bitcoin can be used as a payment method in millions of American storefronts, pundits also approvingly predicted that this will allow crypto investors to "virtually live their lives" using only BTC. Mallers said: MicroStrategy's Michael Saylor, during a chat with ARK Invest's Cathie Wood, said he believes crypto companies that fail to embrace Lightning could find themselves at a significant disadvantage — and customers may look to transact elsewhere. Comparing this with "cutting yourself off from the internet," he said:
"In most countries, the president or prime minister doesn't have that much influence… I think getting a big nation-state to just go top down and say 'we're gonna do Bitcoin' is going to be an outlier much like El Salvador. I don't think that's common. We're going to see more grassroots-level adoption, city, state-level adoption. We saw that in Lugano in Switzerland. I think that's definitely promising. It's the same as Madeira.
Our interview took place just after Jack Mallers said that there hadn't been any innovation in payment networks for more than 50 years.He pointed to how Mastercard is being used to enable people to invest in crypto, and simplify the process for those buying non-fungible tokens. The credit card giant has also partnered with the likes of Bitpay and Coinbase — and recently acquired the blockchain analytics firm CipherTrace.
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