Podcasts: Strike Launches in El Salvador with Jack Mallers, Miles Suter & Michael Peterson - WBD338 🔗 3 years ago
- Category: Podcasts | What Bitcoin Did
- Author(s): Peter McCormack
- Published: 23rd April 2021 14:22
Location: Remotely Date: Tuesday 6th April Company: Strike, Square Crypto & Bitcoin Beach Role: CEO, Bitcoin PM, FounderCIO
Bitcoin Beach is an experiment set up by Michael Peterson, trying to help the people of El Salvador. The organisation built a Bitcoin economy in Punta Mango, a small beach town in El Salvador where local businesses now accept Bitcoin, creating a local Bitcoin circular economy.
In rolling out bitcoin services in this part of El Salvador, the speed and cost of transacting on the base layer presented challenges. Migrating to using the Lightning Network has solved these issues and helped build a circular bitcoin economy.
Jack Maller’s Strike has also launched in El Salvador to solve other issues for the local people. With the Strike app using the bitcoin network as the payment rail, users can send fiat currencies instantly and at no cost.
In this interview, I talk to Zap CEO Jack Mallers, Square Crypto's Miles Suter, and Bitcoin Beach's Michael Peterson. We discuss the Lightning Network, international remittance and how Strike solves problems for people in El Salvador.
