The Bitcoin 2022 conference held in Miami is hosting many influential and important figures this year. The start of its conference created a stir for crypto investors, which reflected positively on the market. The companies announced new features that will make crypto money transactions and stack sales easier and reduce the cost. What were the highlights of the conference?
Bitcoin (BTC) adoption is growing across states and cities
Samson Mow, who left Blockstream to focus on Bitcoin adoption, which we featured in Cryptokoin.com news, said: Increasing BTC adoption across countries established his own company. Samson Mow announced at the conference that the city of Prospera in Honduras and the autonomous region of Madeira in Portugal are adopting Bitcoin.
Samson Mow stated that other countries, such as El Salvador, will eventually accept Bitcoin as legal currency, and he mentioned the following:
I think a great nation-state should go from top to bottom and ‘Bitcoin’ ‘We will accept it’ would be very contradictory, like El Salvador. I don’t think it’s widespread yet. We will see more city, state level acceptance. We saw this in Lugano in Switzerland. I think that’s definitely promising. Madeira is similar.
Can Bitcoin be a less costly payment network?
El Salvador’s President Nayib Bukele, who has become an extremely important name for the crypto market, could not attend the Bitcoin 2022 conference due to the problems arising from the internal conflicts in his country. In Jack Mallers’ keynote, he touched on the history of legacy payment networks and argued that for a long time there was no innovation in the infrastructure of payment networks. Jack Mallers said:
In reality, payment networks have not been innovating for over 50 years. This is madness. You’re telling me that the ‘I want to pay for something’ problem hasn’t been new since 1949, the caviar buffet. This is ridiculous.
Determined to take the Lightning Network forward, Strike plans a new inexpensive payment network to be built on Bitcoin as a solution. As we mentioned in the news of Kriptokoin.com, the company has partnered with Shopify. In addition, it collaborated with payment company Blackhawk and NCR, the world’s largest point-of-sale supplier. These partnerships mean that BTC can be used as a means of payment in millions of American stores. Jack Mallers used the following statements regarding the subject:
McDonald’s, Walmart, Macy’s, Best Buy. This is not in another country. No, here in the USA. You will be able to enter a grocery store on Whole. Foods to Chipotle. Want to say hi to Tor? Do you want to use Cash App? you are doing this.
A boost to the crypto world from Serena Williams
As it may be recalled, Serena Williams has recently invested in a number of crypto companies, including Bitcoin rewards platform Lolli. . Serena Williams stated that the lead crypto has a long 13 years to show that it is alive and working, adding:
I am really into cryptocurrencies. Because this is the future. Bitcoin in particular stands out because it is really very unique and very different.
Bitcoin maximalist’s Lightning rating
This technology claims to allow users to instantly make BTC payments by reducing block confirmation times. This technology, which is also scalable, is seen as having the potential to enable massive transactions to occur on the Bitcoin Blockchain. Its low cost is considered its biggest advantage.
Besides, Cash App also made a lot of announcements. The company allows users to receive Lightning Network transactions, as well as invest in BTC with their paychecks and savings. Cryptocurrency trading platform Robinhood also supports Lightning. MicroStrategy’s Michael Saylor warned that crypto companies that do not adopt Lightning will not be able to enjoy significant benefits, and therefore they may lose their customers. Michael Saylor, a Bitcoin maximalist, commented:
The best app in the world will be when six billion people wander around with a mobile phone with an Android or iOS app, have a Lightning wallet and some BTC in it. .
Are digital currencies of central banks garbage?
Mexican billionaire Ricardo B. Salinas talked about “fiat currency fraud” and stated that emerging economies have been using the US dollar as a safe haven for a long time, but that the spending power will be significantly lost in the future. Ricardo B. Salinas warns that central bank digital currencies could be worse than the dollar
What is Mastercard’s purpose in the crypto space?
“We just finished talking about everything we do in this space,” said Raj Dhamodharan, head of crypto at Mastercard, noting that innovations continually add value, increase trust in the ecosystem and deliver a personalized payment experience to billions of users.
Raj Dhamodharan pointed out how Mastercard is used to support people’s crypto investments and facilitates the Non Fungible Token (NFT) purchase process. Regarding why Mastercard is adopting crypto, Raj Dhamodharan said:
It’s really about the election. Mastercard has always been about enabling different ways of moving value.
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