- MicroStrategy is exploring software and Lightning Network-based solutions.
- Michael brought up the concept of the “Lightning wall,” a paywall based on Bitcoin that would shield websites from cyberattacks by asking users to deposit Satoshi.
According to Michael Saylor, executive chairman of MicroStrategy, his company intends to introduce software and solutions powered by the Bitcoin Lightning Network in 2023.
On December 28, Michael revealed during a Twitter Spaces event that the business is exploring software and Lightning Network-based solutions, including those that “assist” enterprise marketing and a cybersecurity solution for business websites.
A layer-2 payment mechanism called the Lightning Network sits on top of the blockchain of Bitcoin and permits off-chain transactions, increasing throughput, and cutting fees.
MicroStrategy, a business intelligence and technology firm famous for its sizable Bitcoin holdings, has been looking to bolster its Lightning Network-versed team and most recently announced it was looking to hire a software engineer to develop a Lightning Network-based software-as-a-service platform.
Michael discussed how CMOs might leverage the Lightning Network to entice customers by rewarding them with satoshis for undertaking tasks like leaving positive reviews or finishing surveys during the Twitter Spaces discussion.
Additionally, he said, the company wants to make it possible for any corporation to “spin up” Lightning infrastructure in the afternoon.
The CEO of MicroStrategy brought up his “Lightning wall” cybersecurity concept once more. This concept is a Bitcoin-based paywall shielding websites from cyberattacks by asking visitors to deposit in Satoshi.
Michael claimed that to “ensure” safe passage, users of sensitive corporate websites would need to deposit “100,000 satoshis,” which would be quickly reimbursed after the user had ended their visit.
However, due to the processing times associated with receiving money back, he pointed out that credit cards could not provide this, saying:
“The problem with credit cards is that you couldn’t reasonably post $20 to 100 websites each day and then get the $20 back in one second, could you?”
Michael thinks it is only a matter of time before a Lightning “Netscape browser” is developed.
He predicts it will include “something more like” a Lightning wallet that stores fiat money and several cryptocurrencies. If this wallet is developed in a non-custodial manner, in his opinion, it has the potential to reach 100 million users.
Michael stated that teams within the corporation are working on it and that they hope to release something by “next year,” but it is more probable that they will be able to demonstrate anything in the first quarter.
The most recent introduction of a new form of BTC address. Users can conduct transactions on the Lightning Network almost instantly thanks to Lightning Addresses, as opposed to the 10-minute average for conventional Bitcoin transactions.
Additionally, Michael disclosed that MicroStrategy had acquired 2,500 BTC for $41.5 million, raising the total cost of its assets to 132,500 BTC ($2.2 billion). Currently, the company possesses more Bitcoin than any other publicly traded company.