Lightspark CEO David Marcus aims to address the absence of a worldwide internet protocol for global money transfers. In an interview with CNBC, Marcus emphasized the need for a global internet protocol to efficiently transfer money across international borders. He discussed the cumbersome process of sending money, which involves requesting bank account numbers, dealing with varying formats, and facing high international wire transfer fees. Marcus believes that bitcoin itself will not be used as a currency for everyday purchases, but instead, a small part of bitcoin within the Lightning Network can be used as a specialized data packet for transferring value between people. Lightspark, backed by a16z crypto and Paradigm, aims to build on Bitcoin’s Lightning network. Marcus has a background in mobile payments and was instrumental in the creation of Diem (formerly Libra) while working at Facebook.
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