MicroStrategy to Launch Enterprise Plugins on Lightning Network

UTC by Babafemi Adebajo · 2 min read
MicroStrategy to Launch Enterprise Plugins on Lightning Network
Photo: Depositphotos

Citing the speed of transactions on the Lightning network, Saylor noted the delays associated with using credit cards for such a transaction would not affect the Lightning network.

Co-founder and former CEO of MicroStrategy Michael Saylor has revealed the firm’s plans to release enterprise plugins on Lightning Network in 2023. Saylor made this disclosure while speaking at a Twitter Spaces event.

At the event, Saylor noted the company was working to introduce cybersecurity, e-commerce, and marketing solutions for enterprise users. The company is hoping to leverage its experience in developing mass-deployable plugins.

The announcement is not surprising given that MicroStrategy recently announced it was hiring a Bitcoin Lightning Software engineer to build a SaaS platform using the Lightning network.

According to Mr. Saylor, the firm has teams working on different products concurrently. The company will unveil the products in the first quarter of 2023 and launch them later that year.

Potential Use Cases of Lightning Network Enterprise Plugins

Saylor spoke extensively on the company’s idea during the Twitter Spaces event, citing varying use cases of the proposed enterprise plugins.

He talked about the possibility of creating a Lightning wallet as a paywall that requires micropayments before accessing private content.  If the wallet is non-custodial, Saylor believes its reach could extend to 100 million people. “We want to make it possible for any enterprise to spin up a Lightning wallet and a Lightning wallet architecture in the matter of an afternoon,” he concluded.

Again, the former CEO noted that it could be used as a corporate security wall. With that, it could protect enterprise websites from cyber attacks since visitors will be asked to make a crypto deposit. Once complete, the assets will be returned to the website visited immediately.

Citing the speed of transactions on the Lightning network, Saylor noted the delays associated with using credit cards for such a transaction would not affect the Lightning network. Asides from this, Saylor noted that marketing officers could use the plugins to reward customers and incentivize them for specific activities like posting good reviews or completing surveys.

Will MicroStrategy’s Bitcoin Buying Spree Backfire?

Meanwhile, MicroStrategy has increased its Bitcoin holdings, acquiring about 0.6% of the world’s total Bitcoin supply. Between 1st November and 24th December, the company purchased 3,205 BTC to bring its total Bitcoin supply to 132500 BTC. Consequently, the company has an unrealized loss of about $1.8 billion.

Will the decision to keep buying Bitcoin backfire or reward the company? The next few months will tell.

Bitcoin News, Blockchain News, Cryptocurrency news, News
Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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