Bitcoin

Jack Dorsey: Cash App Lightning Network integration not an ‘if’ but a ‘when’

February 11, 2019, 3:52PM EDT

Following his participation in the Lightning Network Torch game, Jack Dorsey, CEO of Twitter and Square, went on the Stephan Livera podcast with Lighting Labs CEO Elizabeth Stark, to discuss Bitcoin, the Lightning Network, and the Cash App.

When asked why he decided to focus on Bitcoin instead on other alternative cryptocurrencies, Dorsey said that "it's due to the principles that created it [Bitcoin], the community around it, the ideals that it fosters, the brand,...and there is an element of practically as well." Dorsey also added that, while there are "interesting ideas elsewhere" he believes those ideas can be integrated into Bitcoin.

Further into the interview, Livera asked Dorsey about two frequently requested features from the Bitcoin community for the Cash App: (1) enabling users to auto-buy Bitcoin with savings from Cash App's boost feature and (2) integrating the Lightning Network into the Cash App.

On the first point, Dorsey stated "we've definitely heard that ask and I think there is something there. We haven't explored it too much just yet, but we do hear the call and we think it would be pretty compelling." On the second point, Dorsey notes that "we would love to make [Bitcoin] as fast and efficient and transactional as possible and that includes looking at our seller base and register. It’s not an if, it’s more of a when and how do we make sure that we’re getting the speed that we need and the efficiency." adding that "a lot of what we work with on the seller side is making transactions as fast as possible."

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