Co-Creator of Facebook’s Diem Reveals Plan to Build Global Payments Network with Bitcoin
The co-creator of Facebook’s cryptocurrency project Diem, David Marcus, is now spearheading the development of a global payments network using Bitcoin (BTC). In an interview on CNBC Squawk Box, Marcus discussed his Bitcoin-based payments startup’s goal of creating a low-cost universal payment service. He explained that while Bitcoin is not the currency people will use to buy things directly, it can function as a value transfer mechanism on top of the Lightning Network. The Lightning Network is a scaling solution that enables fast and cost-effective BTC transactions. Marcus aims to build a payments system that is as simple as sending a text message or an email, allowing for seamless global payments. Bitcoin is currently trading at $25,182, with a 2.2% decrease in the last 24 hours.
Hot Take: Revolutionizing Global Payments with Bitcoin
David Marcus’s plan to create a global payments network using Bitcoin has the potential to revolutionize the way we conduct cross-border transactions. By leveraging the Lightning Network, Marcus aims to make Bitcoin a universal payment service that enables seamless and low-cost transfers across different currencies. This vision addresses the current limitations of traditional payment systems and offers a more efficient and accessible alternative. With the increasing adoption of cryptocurrency, Marcus’s initiative could significantly impact the way we send and receive money globally. By simplifying the process and reducing costs, this innovation opens up new possibilities for individuals and businesses alike. As Bitcoin continues to evolve and gain traction, it has the potential to transform the global financial landscape.
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