Marijuana Industry Interested In Bitcoin’s Lightning Network, Says Zap’s Jack Mallers

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During a panel focused on the Lightning Network and Bitcoin development at the recent 2019 MIT Bitcoin Expo, Jack Mallers, who is the creator of the Zap Lightning Network wallet, was asked to talk about what merchants need to know before they try to join the Bitcoin’s second-layer payments solution. In his response, Mallers indicated there is demand for Bitcoin’s Lightning Network from merchants involved in the marijuana industry. Merchants Want Lightning According to Mallers, there is a lot of interest in Bitcoin’s Lightning Network from merchants; however, more on and off ramps between the Lightning Network and traditional fiat currencies are needed. “Merchants actually — a lot of them prefer bitcoin and Lightning as a payment rail,” said Mallers. “Something like Lightning is very appealing. It’s cheaper. But being able to get in and out — that’s a problem that needs to be solved.” Exchanges are expected to add Lightning Network functionality once the network is more battle tested. For now, OpenNode and CoinGate offer merchant services for instantly converting Lightning Network payments to various fiat currencies. Of course, some merchants don’t care much about the ability to easily and instantly convert to fiat after a payment is made. At Bitrefill, Lightning Network payments are already outpacing all of the altcoins. Last month, OpenNode’s Rui Gomes and João Almeida also discussed how nothing else in the cryptocurrency space can compare with the combination of Bitcoin with the Lightning Network at this time. The Marijuana Industry and Lightning Mallers pointed to the marijuana industry as a specific area where merchants are interested in…
Source: Marijuana Industry Interested In Bitcoin’s Lightning Network, Says Zap’s Jack Mallers

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