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&lt;figure class="image"&gt;&lt;img src="https://cimg.co/news/124683/329336/david-marcus.jpg" alt="" srcset="https://cimg.co/news/124683/329336/responsive-images/david-marcus___media_library_original_612_408.jpg 612w, https://cimg.co/news/124683/329336/responsive-images/david-marcus___media_library_original_600_400.jpg 600w, https://cimg.co/news/124683/329336/responsive-images/david-marcus___media_library_original_300_200.jpg 300w" sizes="100vw" width="612" class="content-img"&gt;&lt;figcaption&gt;Source: Getty Images&lt;/figcaption&gt;&lt;/figure&gt;&lt;p style="text-align:justify;"&gt;David Marcus, former &lt;a href="https://cryptonews.com/tags/paypal/"&gt;PayPal&lt;/a&gt; President and present CEO of the Lightning Network infrastructure company Lightspark, says his firm is aiming to transform &lt;a href="https://cryptonews.com/guides/bitcoin/"&gt;Bitcoin&lt;/a&gt; (BTC) into a global payment network.&lt;/p&gt;&lt;p style="text-align:justify;"&gt;In a recent interview on CNBC's Squawk Box, Marcus pointed out that while connecting with people is easy through texting and email, sending money across borders remains a challenge due to the lack of a global protocol for money on the internet.&lt;/p&gt;&lt;figure class="media"&gt;&lt;oembed url="https://twitter.com/SquawkCNBC/status/1701209691974410575"&gt;&lt;/oembed&gt;&lt;/figure&gt;&lt;blockquote&gt;&lt;p style="text-align:justify;"&gt;&amp;ldquo;What we are trying to do is turn Bitcoin into a real payment, global payment network.&amp;rdquo;&lt;/p&gt;&lt;/blockquote&gt;&lt;p style="text-align:justify;"&gt;Lightspark aims to convert lightning into a &amp;ldquo;universal protocol for money on the internet,&amp;rdquo; akin to how texting is for communication. He said that the currencies transferred over the network would still be fiat currencies.&lt;/p&gt;&lt;blockquote&gt;&lt;p style="text-align:justify;"&gt;&amp;ldquo;We are still at the fax era of global payments and that is what we are attempting to solve.&amp;rdquo;&lt;/p&gt;&lt;/blockquote&gt;&lt;p style="text-align:justify;"&gt;&amp;ldquo;A fragment of a Bitcoin on top of lightning is like a small packet data packet on the internet only for value,&amp;rdquo; Marcus noted. He added that users can send any currency that they wish to transact &amp;ndash; Dollars, Yen or Euros &amp;ndash; and receive money of their choice.&lt;/p&gt;&lt;p style="text-align:justify;"&gt;Furthermore, Marcus stressed that Bitcoin won&amp;rsquo;t become a popular payment method.&lt;/p&gt;&lt;blockquote&gt;&lt;p style="text-align:justify;"&gt;&amp;ldquo;Our view is actually that Bitcoin is not the currency that people will use to buy things. But a fragment of a Bitcoin on top of lightning is like a small data packet on the internet only for value.&amp;rdquo;&lt;/p&gt;&lt;/blockquote&gt;&lt;p style="text-align:justify;"&gt;He highlighted that Lighting acts &amp;ldquo;real-time, cash final and low-cost,&amp;rdquo; making cross-border transactions easier, and more efficient.&lt;/p&gt;&lt;h2 style="text-align:justify;"&gt;Bitcoin Lightning Network &amp;ndash; More Challenges&lt;/h2&gt;&lt;p style="text-align:justify;"&gt;In July, Marcus, who is also the co-creator of Diem crypto, noted that building on &lt;a href="https://cryptonews.com/tags/lightning-network/"&gt;Lightning&lt;/a&gt; and Bitcoin is about five times more difficult than developing on other protocols.&lt;/p&gt;&lt;figure class="media"&gt;&lt;oembed url="https://twitter.com/davidmarcus/status/1685356197367750656?s=20"&gt;&lt;/oembed&gt;&lt;/figure&gt;&lt;p style="text-align:justify;"&gt;He said that Lightspark decided to build on the network because of the &amp;ldquo;unique qualities&amp;rdquo; Bitcoin provides as the underlying network. Despite the challenges, the company is committed to building on Bitcoin Lightning and doing &amp;ldquo;whatever it took to realize its fullest potential,&amp;rdquo; he added.&lt;/p&gt;&lt;p style="text-align:justify;"&gt;&amp;ldquo;Because it&amp;rsquo;s time for the world to have a universal open protocol for payments.&amp;rdquo;&lt;/p&gt;

Former PayPal President Davis Marcus Says People Won’t Use BTC to “Buy Things” – Here’s What You Need to Know

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