Jack Dorsey: Square will implement Bitcoin Lightning Network in the Cash App – Blockchain Technology
Jack Dorsey, the CEO of both Twitter and Square, is working with Lightning Labs to bring the Bitcoin Lightning Network to Square’s Cash App.
Twitter co-founder and CEO Jack Dorsey, also CEO of the popular Cash App by Square, said during an interview for the Stephen Livera’s Bitcoin podcast, that rolling out the Lightning Network on Square’s Cash App is a question of “when, not if.”
The Cash App is a mobile payment service developed by Square, Inc., allowing users to transfer money to one another using a mobile phone app. Last year, the Cash App became the number one downloaded finance app in the Google Play Store.
Jack Dorsey made his remarks alongside Elizabeth Stark, the co-founder of Lightning Labs. Dorsey said the following:
“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.”
About a week ago, during an in-depth two-hour interview with Joe Rogan, Dorsey got the crypto community excited after making some bullish remarks about Bitcoin in front of hundreds of thousands of listeners. Dorsey then said, “the internet will have a native currency and I think it will be Bitcoin.”
During the interview with Stephen Livera, Dorsey again set apart Bitcoin from other cryptocurrencies:
“It feels it’s the one that wants to be currency the most, versus others that are doing more general purpose things or distributed computing […] I think [the altcoin space] has generated some really amazing ideas, but I’m focused on currency and the transactional aspect.”
Dorsey also stated that the app has already exposed Bitcoin to users around the world by giving them a way to spend BTC using the company’s Visa debit card.