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Lightning Series: Why Bitcoin is Global Money with Jack Mallers

Peter McCormack

Interview | Description | Timestamps | Show Notes

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Lightning Series: Why Bitcoin is Global Money with Jack Mallers - WBD373 Peter McCormack

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Location: Remotely
Date: Thursday 15th July
Project: Strike
Role: CEO

With Strike, Jack Mallers is taking on the traditional financial rails and neobanks by facilitating the sending of money anywhere in the world, near-instantly and for free. Strike does this by utilising the largest and best open monetary network of all time, bitcoin. 

After running a successful pilot campaign in El Salvador, a country that relies heavily on remittances, Jack was instrumental in its groundbreaking bill that made it the first country to adopt bitcoin as legal tender.

In a country where a vast proportion of the population operating outside of the banking system, Strike helps build financial inclusion, and they now have their sights set on the rest of the world.

In this interview, I talk to Jack Mallers, CEO of Strike. We discuss the Lightning Network as a medium of exchange, the power of open networks, and how the Bitcoin rails change remittance.

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00:05:15: Introductions
00:09:39: The importance of Lightning to El Salvador
00:12:27: Lightning Network's use case
00:17:31: Is the Lightning Network a threat to Visa?
00:22:28: Bitcoin as a global medium of exchange
00:25:15: The network effect of Bitcoin
00:37:14: Strike solving the remittance problems
00:43:02: Jack's lightbulb moment!
00:46:04: Strike using Lightning as a monetary network
00:49:49: Strike becoming global
00:54:13: Buying Bitcoin with Strike
01:06:05: Building the biggest company on the planet
01:06:57: Final comments

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