According to Michael Saylor, executive chairman of MicroStrategy, the company intends to provide software and solutions powered by Bitcoin layer- 2 payment solution, the Lightning Network in 2023.
On December 28, Saylor revealed during a Twitter Spaces event that the business is investigating software and Lightning Network-based solutions, including those that “assist” enterprise marketing and a cybersecurity solution for business websites.
A layer-2 payment mechanism called the Lightning Network sits on top of the blockchain of Bitcoin and permits off-chain transactions, increasing throughput and cutting costs.
MicroStrategy, a business intelligence and technology company well-known for its sizable Bitcoin holdings, has been looking to bolster its Lightning Network-versed team. Most recently, the company announced it was looking to hire a software engineer to develop a Lightning Network-based software-as-a-service platform.
Saylor discussed how CMOs may leverage the Lightning Network to entice consumers by rewarding them with satoshis for doing tasks like leaving positive reviews or completing surveys during the Twitter Spaces discussion.
Additionally, he added, the business intends to enable any organization to “spin up” Lightning infrastructure in an “afternoon.”
The CEO of MicroStrategy brought up his “Lightning wall” cybersecurity concept once again. This concept is basically a Bitcoin-based barrier that would shield websites from cyberattacks by asking users to make a deposit in Satoshi.
Saylor claimed that in order to “ensure” safe passage, visitors of sensitive business websites would need to pay “100,000 satoshis,” which would be quickly reimbursed after the user had ended their visit.
Due to the processing times associated with receiving money back, he pointed out that credit cards could not provide this, saying:
“The problem with credit cards is that you couldn’t reasonably post $20 to 100 websites each day and then you get the $20 back in one second, could you?
Saylor thinks it is just a matter of time until a Lightning “Netscape browser” is developed, which he predicts will include “something like” a Lightning wallet that stores fiat money and several cryptocurrencies.
If this wallet is developed in a non-custodial manner, in his opinion, it has the potential to reach 100 million users.
Saylor once again referred to the Lightning Network as the “internet of money” and complimented its “inspirational” development during the Twitter Spaces discussion.
He said that teams inside the corporation are working on it and that they want to release something by “next year,” but it is more probable that they will be able to demonstrate anything in the first quarter.
Michael Saylor responded against Eric Wall in October when Wall claimed that Saylor had only ever completed three Lightning deals.
The most recent introduction of a new form of BTC address. Using Lightning Addresses, users may transact practically immediately on the Lightning Network, as compared to the 10-minute average for conventional Bitcoin transactions.
