Lightning Network wallet, Strike, has announced a partnership with Shopify, Blackhawk, and NCR networks for Bitcoin settlements in Shopify sites and more than 400,000 storefronts.
The offering allows retailers to receive bitcoin from customers and turn them into fiat currency without charges or lengthy processing time.
Jack Mallers, the founder of Zap, says that the partnership could see major companies, including Home Depot, Best Buy, McDonald’s, and Walmart, accept the digital asset for payments.
The announcement by Mallers was lauded by Block’s founder, Jack Dorsey, who termed the step inspirational.
Cryptocurrency exchange platforms Kraken and Bitpay have also added the Lightning Network. Lightning is a layer-two solution in the Bitcoin network that employs smart contracts in instant payments.
The network looks much into the use of bitcoin as a digital currency from the perspective of an inflation hedge and store of value.
Source: CRYPTOSLATE