Every Company Will Be a Lightning Company

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By Graham Krizek

“No One Loves Their Bank” is the motivation behind Angela Strange’s 2020 presentation, “Every Company Will Be A Fintech Company”. The premise is that any industry, regardless of the barriers to entry, will eventually succumb to innovation with such high levels of customer dissatisfaction. The vision for financial services of the fiat system focuses on the creation of SaaS companies to streamline the process of in-house banking functions. Such a system requires many disparate fee-charging companies to optimize; it is time to consider alternatives.

Bitcoin enables businesses to streamline the exchange of goods and services for currency, beyond just optimizing individual elements of a bloated system. This writing will explore, in the context of Angela’s presentation, why and how businesses are taking financial transactions in-house and demonstrate how doing so, through Bitcoin on the Lightning Network, is optimal for both the business and the consumer.