NCFAs innovation and funding ecosystem

Payments without banks goes mainstream with Twitter on Bitcoin Lightning Network

LinkedIn Pulse| Chris Venter | Sep 24, 2021

Bitcoin Lightning Accepted Here - Payments without banks goes mainstream with Twitter on Bitcoin Lightning Network

The Bitcoin lightning network

You can read all about it here: https://lightning.network/ but I will explain it simply.

The Lightning is built on top of Bitcoin’s blockchain. It was designed with small micro payments in mind. The lightning network is known as a layer 2 payments system because it sits on top of the Bitcoin blockchain which can be thought of as the underlying 1st layer.

See:  Twitter to allow Bitcoin tipping to their favourite creators

It uses built in smart contracts to open up direct payment channels between individuals. It’s fast, efficient and has very low transaction costs that enable very tiny micropayments.

Andreas M. Antonopoulos explains the Lightning Network in this awesome video here

Mainstream adoption

On Thursday 23 September 2021, Twitter announced that their Tip Jar feature would support payment using Bitcoin via Strike’s API. Strike https://strike.me/ allows you to send and receive payments in Bitcoin. It uses the Lightning network we just spoke about. 

Once this feature rolls out, any Twitter user can send money to another Twitter user using Bitcoin. The payments is immediate, fast and free.

Here comes the so what…

No Bank was involved.

No Swift payments network..

No Visa payments processing fee…

No Currency conversion and exchange rate fee….

See it in action… 

Continue to the full article --> here

See:

Amazon Responds To Rumors That It Is Integrating Bitcoin Payments On Its Platform

‘Last year we saw about a 300% increase in transactions just using cryptocurrency’: Coinpayments CEO


NCFA Jan 2018 resize - Payments without banks goes mainstream with Twitter on Bitcoin Lightning Network The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Payments without banks goes mainstream with Twitter on Bitcoin Lightning NetworkFF Logo 400 v3 - Payments without banks goes mainstream with Twitter on Bitcoin Lightning Networkcommunity social impact - Payments without banks goes mainstream with Twitter on Bitcoin Lightning Network

Support NCFA by Following us on Twitter!






NCFA Sign up for our newsletter - Payments without banks goes mainstream with Twitter on Bitcoin Lightning Network



For more information about FFCON21: BREAKING BARRIERS, on-demand videos and ways to participate




 

Leave a Reply

Your email address will not be published. Required fields are marked *