Former Twitter CEO and current CEO of Block, Inc. Jack Dorsey is at it again.
The Cash App, which is owned by Block (one of Dorsey’s companies and formerly known as Square), just announced that Bitcoin can now be sent between users of its app via the “Lightning Network”.
The Lightning Network is a network protocol that lives on a blockchain (like Bitcoin) and helps speed up transactions (like REALLY speed up).
Now with the Lightning Network integration, Cash App users will be able to send Bitcoin to each other for free and nearly instantly. Additionally, users will be able to send Bitcoin to anyone anywhere in the world.
Here’s Cash App’s official announcement on Twitter:
Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin.
Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6
— Cash App (@CashApp) February 7, 2022
I think this certainly a significant moment in Bitcoin’s adoption narrative, and it will be very interesting to see how much usage this feature gets. Anything that enables people to easily pay for goods or services with Bitcoin is something to keep an eye on.
Bitcoin’s price is sitting just above $44K at the time of this post.
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