<\/p>\n
David Marcus<\/a>, formerly an executive at PayPal and Meta\/Facebook, commented on his goals for Bitcoin development during a Sept. 11<\/a> interview on CNBC.<\/p>\n Marcus began by describing his current company, Lightspark, which is building payment solutions for Bitcoin\u2019s Lightning Network<\/a>. He said:<\/p>\n \u201cWhat we\u2019re trying to do is turn Bitcoin into a real global payment network \u2026 we\u2019re still in the fax era of global payments and that\u2019s what we\u2019re attempting to solve.\u201d<\/p>\n<\/blockquote>\n Marcus emphasized throughout the interview that most popular payment services do not fully support international transactions or cross-application transactions. By contrast, he suggested that many other online services, such as texting, emailing, and video conferencing, can be accessed by their users almost universally.<\/p>\n He also called international transactions an enormous business opportunity, with \u201ctrillions of dollars of transactions\u201d taking place on existing networks.<\/p>\n When asked whether Bitcoin\u2019s adoption as a real-world currency could result in a higher market value for the asset, Marcus said:<\/p>\n \u201cOur view is actually that Bitcoin is not the currency that people will use to buy things \u2026 the actual net settlement layer that is used is basically Bitcoin Lightning and it settles in real time, cash final, and at a very, very low cost.\u201d<\/p>\n<\/blockquote>\n Marcus added that this approach allows for currency exchange \u2014 including dollars, Japanese yen, and euros \u2014 \u201cat the edges of the network.\u201d He did not clarify whether this is a basic feature of Lightning or a planned feature of his own Lightspark project.<\/p>\n Before creating Lighstpark, Marcus served as Vice President of Messaging Products at Facebook, now known as Meta. After taking on that role in 2014, Marcus moved to a blockchain group within Facebook in 2018 in order to lead development on the company\u2019s now-defunct Diem stablecoin and Novi wallet. He left the company in 2021.<\/p>\n He also served as Vice President and President at PayPal<\/a> between 2011 and 2014. Incidentally, Marcus commented on PayPal\u2019s current stablecoin goals<\/a> in a conversation with Axios on Sept. 8<\/a>. There, he suggested that PayPal is likely in a better position to launch a stablecoin than Meta in part due to PayPal\u2019s existing payment services.<\/p>\n Marcus briefly served on Coinbase\u2019s<\/a> Board of Directors from 2017 to 2018 but left that position in order to work on blockchain products at Facebook.<\/p>\n The post Ex-PayPal, Facebook exec David Marcus says Lightning can turn Bitcoin into a \u2018real global payment network\u2019<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" David Marcus, formerly an executive at PayPal and Meta\/Facebook, commented on his goals for Bitcoin development during a Sept. 11 interview on CNBC. Marcus began by describing his current company, Lightspark, which is building payment solutions for Bitcoin\u2019s Lightning Network. He said: \u201cWhat we\u2019re trying to do is turn Bitcoin into a real global payment […]<\/p>\n","protected":false},"author":2,"featured_media":153977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-153976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=153976"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153976\/revisions"}],"predecessor-version":[{"id":153978,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153976\/revisions\/153978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153977"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=153976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=153976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=153976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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Marcus has a long crypto and payments history<\/h2>\n