Thought exercise: If you were pitching Bitcoin and/or Lightning to Apple to adopt the technology, what would you focus on?
Discussion
Incorporate and build on Lightning for it’s near instant settlement abilities. Implement it as the payment rail for everything.
(This is Zachy Smooth Brain’s Take)
How much they could save versus using Adyen with no PII liability.
Take their cash horde and buy bitcoin to provide liquidity. Largest lightning network in the world with direct connections to all iOS Wallets around the world. Apple Pay becomes Lightning Pay or whatever, it’s accepted everywhere.
Asked AI to act like Steve-
Ladies and gentlemen, introducing LightningPay, the breathtaking new way to revolutionize your transactions. Today, we say farewell to the outdated and welcome a lightning-fast future of payments. With LightningPay, powered by the Lightning Bitcoin Network, your purchases will be as swift and magical as the touch of a button on your favorite Apple device.
Just imagine the simplicity. With a mere tap, your transaction is complete, effortlessly connecting you to the things you love. It’s like the moment your fingers dance across the iconic touch interface of our beloved iPhones. LightningPay will transform the way you pay for everything, unlocking a world of convenience at your fingertips.
Gone are the days of waiting in line or fumbling for cash. With LightningPay, your journey towards frictionless transactions begins now. Embrace the power, the speed, and the elegance of this groundbreaking technology. Welcome to a new era of payments. Welcome to LightningPay.
In this scenario, does Apple issue Lightning addresses to each user? Or do you think they simply operate large Lightning nodes and provide big channels of liquidity, depending on others to bring their Lightning addresses?
I would prefer this: “operate large Lightning nodes and provide big channels of liquidity, depending on others to bring their Lightning addresses.”
The iOS wallet creates the key that is kept the their Secure Enclave or you can control your keys like iCloud now.
Creating the key and storing it in the Secure Enclave would mean they're providing the Lightning address, no? For example, your iCloud email would become available for Lightning. satoshi@icloud.com.
That’s a idea 💡
Apple as a Lightning Service Provider. That’s one element to this. They could do that separate from providing lightning within the wallet app itself.
If Apple does this, it will most likely be through a third-party provider. That is already their business model. Apple Credit is through Goldman-Sachs, and Apple Cash is through Green Dot.
They will likely want to insulate themselves from possible regulation having to do with becoming a "financial institution" by letting someone else do that part. The regulatory scrutiny a big company like Google, Apple, et al. come under is the biggest hindrance to them adopting BTC/Lightning in my humble opinion, and is the thing that needs to be lobbied and changed.
Until there is legislation in place that clearly defines the responsibilities of "wallets," "custodial," and "non-custodial," along with the tax implications of holding and trading in BTC, I seriously doubt any of these companies would actually wade in directly, as that red tape is firmly the expertise of financial corps.
That all makes sense
why pay fees to a payment processor? build your own on lightning and have instant settlement on a global network and take the fees yourself.
Fountain isnt getting flack as far as I know. I think Apple is cool with zaps as long as they get a cut in the currency where they operate.