Bitcoin

Jack Mallers To Make 'Important' Announcements At Bitcoin 2022

Jack Mallers and South America

Who is Jack Mallers?

Last year at the Bitcoin 2021 conference in Miami, 27-year-old Strike CEO Jack Mallers made the most important announcement ever in Blockchain: A country is officially adopting Bitcoin as legal tender. That country was El Salvador. The special part is: Strike app is the top Bitcoin wallet for their citizens. Mallers is set to speak this evening, April 7th, at 4:35 pm.

Strike aims to make a wallet combining Bitcoin and fiat that is secure and easy to use for people across the globe. It can be compared to Venmo or Cash App, except the key difference is you that you don't deal with any banks and have direct access to the lightning network.

Here's how it works: when a user initiates a transaction using the Strike Wallet, they can send and receive fiat, since it is converted after the transaction is conducted using the Bitcoin lightning network. You can also transact directly using Bitcoin using the Lightning Network. It is notable, that eventually in the near future, services like PayPal may start utilizing the lightning network for Bitcoin payments. Despite Strike's first mover advantage, this means they may lose market share in the coming future.

What might he say?

While they plan to expand globally in the future, Strike has a clear business strategy of targeting South America with their products right now. Given that Jack Mallers and Strike were influential in Bitcoin becoming legal tender in El Salvador, it's possible he's spent his time conducting talks with other governments since last year's conference. Also, he could have been talking to other companies to integrate new functions in the app. 

He could potentially announce partnerships with South American digital payments companies like MercadoLibre. While a less likely than last year, it's also possible he could be announcing new legal tender laws for Bitcoin in other South American countries. Mallers actually helped the EL Salvador government draft the bill.

Cryptohopper