Jack Mallers vs The World
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Jack Mallers vs The World - WBD296
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Location: Remotely
Date: Tuesday 5th January
Company: Zap
Role: CEO
This week Jack Mallers announced the launch of Strike Global, a Bitcoin neobank that uses the Bitcoin network and lightning to facilitate the sending of money anywhere in the world, in a matter of seconds, for free.
The speed and cost of payments have often been a topic of debate in Bitcoin. While the basechain is necessarily slow, the Lightning Network promises to provide instant and low-cost bitcoin transfers.
With Strike, Jack Mallers is taking this to the next level allowing users to settle in fiat currencies across the Bitcoin network. Fast and no cost transfers of fiat currencies solve problems across the world, especially in third-world countries. Strike aims to run a pilot in El Salvador to prove this.
Strike has also enabled Caroline Panthers Offensive Tackle; Russell Okung to become the first NFL player to be paid in bitcoin, half of his $13 million salary.
In this interview, I talk to Zap CEO Jack Mallers. We discuss the newly launched Strike Global, revolutionising global payments, neobanking with Bitcoin and helping to bank the unbanked in 3rd world countries.
00:04:00: Introductions
00:04:31: The current stability of Bitcoin
00:12:38: Understanding current monetary networks
00:14:40: Strike's thesis
00:16:27: ACH explained
00:18:57: Strike's partnership with Bittrex Global
00:19:54: Instant, free global money transactions
00:23:31: Strike's money transfer process explained
00:25:48: How zero cost transactions are achieved
00:30:57: Say goodbye to exchange rates
00:34:00: Strike in El Salvador
00:38:05: Solving Bitcoin's volatility issue
00:39:54: India, Paytm and the UPI
00:44:55: The open network is the future
00:47:11: Distinguishing between Bitcoin asset and Bitcoin Network
00:48:52: Converting fiat to Bitcoin using Strike
00:50:21: No limitations to Lightning Network liquidity
00:52:09: Russell Okung
00:53:24: How to sign up to Strike
00:58:08: Transitioning to the new monetary network
01:00:38: Final comments
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