How Lightning Drives Global Bitcoin Adoption with Danny Scott

 
 

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“Visa and Mastercard, SWIFT… the innovation on them has grinded to a halt, it doesn’t really change, nothing really happens, it doesn’t move, it’s very centralized, it’s very controlled. What we have with the Bitcoin Lightning network, it’s open, interoperable, that allows for innovation to happen overnight.”
— Danny Scott

SHOW DESCRIPTION

In this episode of the podcast, I sit down with Danny Scott, the CEO of CoinCorner, a bitcoin exchange based in the UK. Danny has built CoinCorner into a successful business without relying on VC funding, and he shares his insights on the challenges and opportunities of doing so in the highly competitive world of bitcoin.

During our conversation, we discuss the current state of bitcoin adoption and the importance of making cryptocurrency accessible and user-friendly for those who are new to the space. Danny shares his thoughts on the role of the lightning network in driving adoption, and how it can help make bitcoin more useful and functional for everyday use.

We also delve into the topic of how you can't force adoption, and the importance of building a product or service that meets the needs of your target audience. Danny shares his thoughts on how to approach building a business in the cryptocurrency space, and the key factors that contribute to success.

Overall, it's a fascinating conversation with a true industry leader. Tune in to hear Danny's insights on building a bitcoin business, driving adoption, and the future of the Bitcoin industry.

TIMESTAMPS

00:01:28: Introductions
00:02:31: Danny's background, and the CoinCorner ecosystem
00:08:11: UK banking and regulation hindrances
00:18:34: The Isle of Man, and CoinCorner in the UAE
00:23:13: Bitcoin use cases in the UK and worldwide
00:28:10: Bitnob, Lightning and global remittances
00:33:42: ChatGPT
00:38:37: Lightning vs legacy remittances
00:47:24: The internet analogy for Bitcoin's development
00:51:18: Ignoring the crypto noise
00:57:54: Driving merchant adoption, the Bolt Card
01:05:35: The future of Bitcoin contactless payment cards
01:13:16: Final comments

 

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SHOW NOTES

Connect with Danny:

Mentioned in the interview:

Other Relevant WBD Podcasts:

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