Strike Launches in El Salvador with Jack Mallers, Miles Suter & Michael Peterson - WBD338
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 23 April 2021
⏱️ 77 minutes
🧾️ Download transcript
Summary
Location: Remotely Date: Tuesday 6th April Company: Strike, Square Crypto & Bitcoin Beach Role: CEO, Bitcoin PM, FounderCIO
Bitcoin Beach is an experiment set up by Michael Peterson, trying to help the people of El Salvador. The organisation built a Bitcoin economy in Punta Mango, a small beach town in El Salvador where local businesses now accept Bitcoin, creating a local Bitcoin circular economy.
In rolling out bitcoin services in this part of El Salvador, the speed and cost of transacting on the base layer presented challenges. Migrating to using the Lightning Network has solved these issues and helped build a circular bitcoin economy.
Jack Maller's Strike has also launched in El Salvador to solve other issues for the local people. With the Strike app using the bitcoin network as the payment rail, users can send fiat currencies instantly and at no cost.
In this interview, I talk to Zap CEO Jack Mallers, Square Crypto's Miles Suter, and Bitcoin Beach's Michael Peterson. We discuss the Lightning Network, international remittance and how Strike solves problems for people in El Salvador.
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Transcript
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| 0:00.0 | The world, |
| 0:01.0 | The world now has an open monetary network. |
| 0:03.7 | It's the first one of all time. |
| 0:05.6 | And throughout the history of the world, open networks really defeat closed networks and usher |
| 0:09.2 | in a lot of change and innovation and disruption. |
| 0:11.6 | Hello there, from Bedford in the United Kingdom. and It is dumped under $50,000. I'm sure Peter Schiff is dancing there on |
| 0:25.3 | Bitcoin's grave. But we got this right. We can handle this. That's what |
| 0:29.6 | Bitcoin does. We're under no pressure right. We know it's going to shoot back up. A hundred K is coming. We know it's coming. |
| 0:36.3 | All you hard and hodlers, you've been through this before, you got this. |
| 0:40.0 | Anyway, welcome to the What Bitcoin did podcast, which is brought to you by |
| 0:44.6 | Gemini, the only place I am using for buying Bitcoin. I'm your host Peter |
| 0:48.4 | McCormack, and let's be honest, this is a monster episode. Today I've got |
| 0:52.1 | Jack Mallows on the show, Michael Peterson, and finally, |
| 0:55.7 | Miles Suiters. What a lineup. We're going to be discussing the launch of Strike in El Salvador. |
| 1:01.2 | But before that, I do have a message from my amazing show sponsors and firstly I'm going to kick off with BlockFi. BlockFi is the future of Bitcoin and financial services and they offer a number of products for Bitcoiners. So with a BlockFi interest |
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