- April 8, 2022
- |Bitcoin, Crypto News, Cryptocurrency, Economy, Money, Payment cards
Wouldn’t it be nice to buy things your way? Do you remember the old days of Visa commercials, “It’s everywhere you want to be?” How about, “Pay the way you want to pay?” Jack Mallers is working on that, and he has news for you.
Strike CEO Jack Mallers paced around the stage, excited about an announcement he was about to make at the Bitcoin 2022 Conference. At first glance, you could tell he was excited because this young man’s mind was moving at the speed of lightning while his hands and feet wouldn’t stop moving him back and forth across the stage.
So Then, What Is Jack Mallers So Excited About?
He was about to take down the ancient way of paying for things. A payment system that has been in place for over 70 years that beats merchants up and takes days to complete, if not weeks, is about to be shown the door. Jack Mallers isn’t wiping off the cobwebs on an old system. He’s completely throwing it out.
“You’re going to be able to walk into a grocery store, to Whole Foods, to a Chipotle, if you want to use a Lightning node over Tor, you do that. Any online merchant that uses Shopify can accept payments without the 1949 boomer network, receive it instantly, cash final, no intermediary, no 3% fee.”
Whoa! To break it down simply, you can buy Bitcoin from Byte Federal and hold it in your wallet. As this Jack Mallers idea gets more prominent and more companies come on board, you can use it everywhere you want to be-to borrow from the old Visa commercial. The merchant can receive payment the way they want to receive payment. The most significant part about this deal is that it takes out all those middle people who thought they needed to get involved. Those fees are gone.
You pay without fees. They get paid without fees. Win-win! And everyone’s happy. Well, except for those who loved getting money for being in the middle and doing very little. But who can explain this innovation better than Jack Mallers himself?