According to the Twitter and Square CEO, it was just a matter of time for Lightning Network to be integrated into Twitter or BlueSky.
The tweet in question came in response to a request by Twitter user @deyonte_btc’s to combine Lightning Network with either Twitter, which Jack Dorsey is the CEO of, or BlueSky, a decentralized social network Twitter supports. Dorsey hailed BlueSky as a new “standard for the public dialogue layer of the internet” when it was first launched in 2019.
The statement confirms that integration with the Lightning Network sidechain for Bitcoin is in the works. Given Square’s recent strategic stances, including the acquisition of Tidal, a music streaming platform, and the firm’s declaration of an extension of operations for its digital assets, the tweet comes as a contentious comment from the financial services firm’s CEO.
Despite this ambiguous indication, Dorsey previously revealed that Square, the financial services business he founded, plans to produce an open-source non-custodial Bitcoin hardware wallet on its development roadmap.
Square’s recent announcement that it has partnered with Blockstream, a blockchain infrastructure development startup, could be tied to the development of such a wallet.
Dorsey is well-known in the crypto community as a strong supporter of Bitcoin mining to encourage renewable energy adoption and innovation. Square also announced last week that it would invest $5 million in creating and building a solar-powered Bitcoin mining facility.
Square previously announced in December 2020 that it would invest $10 million in the Bitcoin Clean Energy Investment Initiative in order to promote startups that assist boost renewables adoption and efficiency within the Bitcoin ecosystem.
According to industry data, Square is currently the fifth public firm with the greatest Bitcoin holding on its balance sheet. Square now has 8,027 followers. This sum was valued at over $298 million at the time of publication.