The post The Story of Jack Mallers and Bitcoin’s Lightning Network appeared on BitcoinEthereumNews.com.

Jack Mallers revolutionized global payments with Strike, leveraging Bitcoin’s Lightning Network for low-cost, accessible transactions. Mallers played a pivotal role in El Salvador adopting Bitcoin as legal tender, promoting financial inclusion globally. Born in Chicago in 1994, Jack Mallers grew up in a household with a strong financial background. While his father developed a well-known futures business, his grandfather presided over the Chicago Board of Trade. Early knowledge of financial systems and creativity was impacted by these family relationships. But Mallers’s road was one of striking fresh ground rather than adhering to custom. Mallers first heard about Bitcoin from his father in 2013 and soon found great fascination in the technology. He saw in Bitcoin not only a speculative asset but also a revolutionary means of democratizing money. Following a short time at St. John’s University, he dropped official education to fully engage himself in technology at a coding boot camp. With this audacious move, he started his path as a crypto pioneer. Pioneering Financial Inclusion Through Strike  Mallers started Zap in 2017, a business centered on Bitcoin investment and payments made using the Lightning Network. Later on, this effort would produce Strike, a platform meant to close the difference between fiat and digital currencies and streamline Bitcoin transactions. Strike’s creative technique lets people send and get payments utilizing Bitcoin’s Lightning Network without paying excessive fees or requiring technical knowledge. Low-cost transactions and Strike’s easy design soon attracted popularity. By 2020, it had changed public opinion of Bitcoin such that it was not only a useful tool for worldwide payments but also an investment. As the app grew, Mallers’s idea of financial inclusiveness started to take shape. Driving Bitcoin Adoption in El Salvador Mallers’s part in El Salvador’s acceptance of Bitcoin as legal currency was among his most innovative successes.…

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Filed under: News - @ December 26, 2024 7:22 pm