Visa’s Fast Track Program On Boards New Bitcoin Lightning Payment Startup, LastBit

The Visa fast track program has onboarded a new Bitcoin Lightning crypto payment startup, LastBit, which recently launched its beta app. This addition comes barely a month since Strike also joined the Visa initiative to scale crypto adoption through Lightning BTC payment solutions.

Lastbit will enable merchants to accept BTC payments regardless of their preference since the underlying tech converts such transactions to fiat upon settlement. Currently, this BTC lightning-based innovation only allows merchants to receive their payments in U.S dollars. However, they are set to release an app that is Euro compatible in a few weeks, according to the company’s founder, Prashanth Balasubramanian.

LastBit’s BTC Lightning for Micropayments

Despite the rise of Bitcoin and other cryptocurrencies, mainstream adoption is still one of the most significant uncertain factors. Well, BTC lightning solutions, which came up as a result of network congestion, seem to be finding a niche in micropayment fiat-crypto on-ramps, given the convenience in rates and transaction time.

LastBit’s lighting payment, for instance, allows users to load BTC on their applications, after which they can access a digital debit card. With this card, they can then initiate BTC payments, which are received by vendors in dollars and soon Euros.  Balasubramanian has since noted that their goal is to facilitate the mass adoption of Bitcoin as a standard means of payment,

“We simply want to see the masses using bitcoin on a day-to-day basis. To do this, we have engineered arguably the most seamless interoperability between bitcoin and fiat, on top of the Lightning Network, that caters to the needs of both new and experienced users alike,”

Prospect Markets!

As the world continues to move towards digital ecosystems, crypto startups like Stripe and LastBit are looking to capitalize on the growing opportunities in various markets. On this front, LastBit is set to expand into Europe following approval from the EU. Balasubramanian confirmed this prospectus move with Coindesk, highlighting that;

“With a solid product, partnerships and notable investors […] behind us, we’re going to roll out our Bitcoin, Lightning, and EUR interoperable payments layer in the EU to prove that this works and that a small company without millions can pull off a complex payments product to push for Bitcoin adoption,”

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Author: Edwin Munyui

A Subsidiary of T-Mobile’s Parent Becomes Chainlink Node Operator to Secure the Oracle Network

  • T systems MMS, an affiliate of Mega German Telco Company Deutsche Telekom, has onboarded Chainlink as a node operator.
  • The latest partner could only consolidate Chainlink’s spot as the top oracle solution provider.

News has now emerged that German-based T systems MMS has onboarded Chainlink as a node operator. This was announced on Chainlink’s official twitter page.

T systems MMS is a subsidiary of Deutsche Telekom, a mega player in the German Telco industry. They currently enjoy a market cap north of $80Billion boasting of around 200000 employees. T systems MMS has around 2100 staff offering expertise IoT applications while working on new business models to improve the consumer experience. They generated 176 Million Euros in revenue last year.

Dr. Andreas Dittrich, Blockchain solutions lead at T systems highlighted that Chainlink is the first Blockchain initiative they have pursued, citing that their global and digitalized needs input from multiple parties. Hence, deeming interaction with the real-life world essential to any Blockchain initiative adding that partnership further aligns them with their goal manifesting public Blockchains for multiple scenarios.

An analyst at T-Systems MMS, Gleb Dudka believes that it is almost as a duty to Telco companies to provide public Blockchain Network infrastructure. He has cited that they might consider exploring the potential of Blockchain in Telecom specific scenarios such as roaming settlements tipped to trim telco capital costs.

Meanwhile, the LINK has grown steadily and is currently trading at $7.47 recording trading volumes of $653,494,267 in the past 24 hours. They are enjoying a market capitalization of $2,615,749,456, with 350,000,000 LINK in circulation as per this writing.

Chainlink’s Aggressive Expansion

Notably, Chainlink is set to surpass Ethereum in development spending by almost $25 Million by the end of 2020, despite the latter’s market cap dwarfing Chainlink’s. They are issuing 500000 LINKS twice every month to node operators. This is more than the $30 Million Ethereum is projected to spend to reward its node operators.

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Author: Lujan Odera