Jack Dorsey Excited to Collaborate with Coinbase CEO on Bitcoin Payments System

Tech visionary Jack Dorsey has expressed his strong willingness to join forces with Brian Armstrong, the CEO of Coinbase, in an ambitious endeavor to develop an advanced Bitcoin (BTC) payments system. This collaborative effort comes as a response to Armstrong’s call for a revolutionary global cryptocurrency payment solution that is both instantaneous and fee-free.

Brian Armstrong’s insightful perspective sheds light on the next evolutionary phase for cryptocurrencies – a seamless, real-time payment experience that spans the globe. In his own words:

“In the realm of crypto, the logical progression is towards facilitating swift, costless transactions on a global scale. Achieving this requires a collective effort, involving key players like Coinbase, to integrate layer 2 technologies, enhance user experiences, and simplify the onboarding process. The ultimate benchmark is to reduce the average payment to under one cent while confirming it within one second. This breakthrough has the potential to unleash an unprecedented surge of transactions onto the crypto platform.”

Despite the transformative potential of crypto, the progress has been predominantly confined to layer 1 advancements. As Armstrong eloquently puts it, “Payments are akin to water, flowing along the path of least resistance.”

In response, Jack Dorsey, a prominent advocate of Bitcoin and its Lightning Network, posed a thought-provoking question to Armstrong: “Why overlook the power of Bitcoin and the Lightning Network? Is there a more adept crypto protocol for money transmission?”

Armstrong, demonstrating his openness to innovation, expressed his intention to incorporate Lightning, a layer-2 solution designed to expedite Bitcoin transactions. He extended an invitation to Dorsey to unite their expertise and resources in creating something truly remarkable.

Dorsey, embracing the opportunity with enthusiasm, emphasized the pivotal role of Bitcoin and layer-2 technologies in their shared vision. He lauded Coinbase’s significant contribution to Bitcoin’s outreach, while advocating for a rekindled dedication to these core technologies:

“Undoubtedly, Coinbase has played an unparalleled role in introducing masses to Bitcoin. Forging ahead with a renewed emphasis on Bitcoin and layer-2 technologies could yield remarkable outcomes, and we are excited about the prospect of collaboration. Our aspiration is to establish an open protocol for internet-based money transmission, devoid of singular control by any individual, company, or governmental entity.”

In essence, this promising dialogue between two influential figures underscores their shared commitment to revolutionizing global payment systems through the potent combination of Bitcoin’s robust framework and innovative layer 2 enhancements. As the crypto landscape continues to evolve, such collaborative efforts hold the key to unlocking the transformative potential of digital currencies on a global scale.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.