A naukri.com initiative
Bitcoinmagazine
2w
0
David Marcus: From PayPal President To Bitcoin Believer
- David Marcus, the former president of PayPal and Meta Messenger, is now focusing on building on Bitcoin’s Lightning Network with the Lightspark team.
- The Universal Money Address (UMA) standard was launched one year ago and has since brought about new capabilities for tipping, paying for subscriptions, and invoicing.
- Lightspark announced a new Bitcoin Layer 2, Spark, which is compatible with Lightning and allows users to use bitcoin and stablecoins non-custodially.
- Marcus believes that Bitcoin is the only asset and network that is neutral enough to become the internet of money.
- Two of the main issues holding Bitcoin back are the lack of self-custody wallet support and no native way to travel stablecoins. Lightspark aims to solve these issues through Spark.
- UMA Request and UMA Auth enable businesses or e-commerce sites to request money from a wallet for a transaction that can be settled on Lightning, and allows users that are UMA-enabled to delegate push and pull of funds with user set limits.
- For Bitcoin to become the open standard for moving money on the internet, Marcus suggests that the network must be open, self-custody wallets must be supported and fast, and stablecoins must be able to natively travel on Bitcoin.
- Lightspark aims to make Bitcoin the internet of money by building new capabilities, while also working with the entire community to build and contribute to efforts that can ultimately extend it to mainstream consumers.
- Marcus is excited about the progress Lightspark has made in solving the capabilities required for Bitcoin to become the open internet for money and is looking to find entities that share that vision and will execute it with them.
Read Full Article
Like
For uninterrupted reading, download the app