According to the chief executive officer of cryptocurrency wallet business Strike, Bitcoin (BTC) will have a significant impact on the payments sector once it is integrated with one of the world’s largest internet networks.
According to CEO Jack Mallers, his company’s latest cooperation with Twitter to bring Bitcoin tipping to the social media giant would make paying individuals as simple as emailing them over the internet.
“We’re utilizing Bitcoin to make tweeting at someone as simple as sending money to someone, anywhere in the globe, at any time, in any location, using any currency… You’re dealing with complete payment disruption, which has been a long time coming.”
Related: Twitter Updates Tips Feature To Include Bitcoin And Lightning
According to Mallers, BTC is the first currency in human history that can be instantly transferred anywhere in the world. “Can the cash in my pocket land in another country for free in less than a second? No. How could any amount of money accomplish such a feat? It must be entirely digital… That is Bitcoin’s innovation.”
Additionally, he asserts that Bitcoin as a commodity should be considered differently than Bitcoin as a network and that Twitter’s new tipping feature does not have to be based on BTC.
“There is a distinction between Bitcoin the asset, which is this precious metal-like commodity, and Bitcoin the network, which is a monetary network similar to the Visa network… and it performs monetary activities across a worldwide network — achieving instant global cash finality.
Nobody is touching Bitcoin in the Twitter Tips product as it currently stands, while it is being rolled out… You do not need to touch the asset to reap the network’s benefits.” At the time of writing, bitcoin is trading at $42,979, down 13% from its seven-day high.
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