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A DeFi lending protocol, Strike enables users to earn interest on their digital assets through the deposit in one of many markets supported by the platform.
Mallers first buy some coke and then head over to the counter to pay for it. He then points to an open payment standard, which accepts dollars that goes directly into the store’s cash register.
Mallers explains that he could use any lightning wallet to process the payment. He goes on to use Zap which he shares is connected to a lightning node running at his house. In the next step, he scans the QR code and then enters his pin to confirm.
Mallers then tells his virtual audience that after he confirmed the pin, a process has started where Bitcoin is leaving his node over an open standard and entering the store’s cash register as dollars.
The Strike CEO then grabs a packet of peanuts and again scans the QR code using the cash app, enters the pin and hits confirm. And, again he explains that the lightning payment money is leaving the cash app over an open payment standard and entering dollars in the cash register.
For the last payment, Mallers ask the cashier if he can use a QR code for the bud light to pay. On being given the green light, he presents the QR code, which after being scanned transfers the screen to the moon wallet where he again confirms the pin and sends the payment.
The viewers found this method of payment quite revolutionary and futuristic.
On Thursday, during the Bitcoin 2022 conference in Miami, the Strike Founder disclosed a list of partnerships for Bitcoin’s Lightning Network, a collaboration with e-commerce giant Shopify is among the partnerships.
He explained that the people in America can now can into millions of American storefronts that have payments stalwarts and can easily pay across the Lightning Network.
Mallers also revealed at the conference that Strike has also collaborated with Blackhawk, a payment firm, and NCR (NCR) which is among the largest point-of-sale (POS) suppliers in the world.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
