Cash App Bitcoin

It was a blast working on our Bitcoin product which, in my biased opinion, is the simplest product in the U.S for trading, withdrawing and depositing Bitcoin.

I helped to further the Bitcoin mission by making Bitcoin more usable as a currency, specifically integrating the lightning network into Cash App via LDK.

The Problem

Bitcoin is a unique asset that the world has never seen before. Bitcoin is also seen as a currency because the network is used as a payment system. However, making payments via the blockchain is slow and costly. Lightning was invented to turn Bitcoin into a robust, global payment system.

For those living in the west, Bitcoin is treated mostly as an asset. People hold Bitcoin believing that its value will go up. However, in developing countries where there are oppressive regimes and currency failures, Bitcoin is a better alternative than the local currency.

Mission

I believe that Bitcoin only has a future if it can be used as a currency. If all we did was buy and sell Bitcoin, are we adding any new net value?

Bitcoin has superior money properties compared to fiat. If it is truly money 2.0, then the system needs to handle payments at a global scale.

Not to say that fiat should be displaced. Fiat has advantages over a deflationary currency in certain economic conditions. I see a world in which both inflationary and deflationary currencies co-exist. Overall, I believe introducing Bitcoin into our financial system is a good thing. It keeps the existing fiat system in check.

I am super proud to have worked on a product that has influenced more Bitcoin adoption than any other company out there.