The Former President Of Paypal And Libra Is Dumping Everything To Go Bitcoin (BTC)

David Marcus, the former president of Paypal and then head of crypto operations at Meta (ex Facebook), just announced a fundraiser from the largest venture capital investors. After a brilliant career, he announces his arrival in the Bitcoin ecosystem to build infrastructure on Lightning Network with Lightspark.

Paypal, Messenger, Libra… Bitcoin

After a prestigious career as President of PayPal between 2012 and 2014 David Marcus joined Meta as head of Messenger and Nov. Reminder: Novi is the wallet launched by Meta and which aims to process all transactions made in the metaverse

The crazy life of David Marcus, the Frenchman who created Facebook's currency

David Marcus also participated in the creation of Libra who eventually announced that he was leaving the project after a unprecedented regulatory pressure† In short, he is an extremely intelligent man who will bring a lot to the still nascent and fragile Bitcoin ecosystem.

Build after Libra on Lightning

If the project is still embryonic, David Marcus speaks of a backbone infrastructure focused on building services on Lightning for businessesthe developers and the merchants

Convinced of the absolute necessity of “changing our payment and financial systems”his first mission was to shock team to explore Lightning. Several former Meta executives will primarily occupy management positions. Indeed, James Everingham, vice president of engineering at newChristian Catalini, who contributed to the creation of day or even Christina Smedley, the former marketing director of Robin Hood join Light Park.

For those who don’t know, Paypal had the ambition at the end of the 90s to create a decentralized currency, emancipated from states and banks. Society has undoubtedly failed. It will be necessary to wait for Satoshi Nakamoto and Bitcoin to see this “alternative dollar” project become a reality. David Marcus’ career at Paypal, then Libra is full of meaning.

the bear market in which we have inevitably entered a few days does not impress him. On the contrary, he says: enjoy moments of peace to focus on building solutions innovative.

The largest VCs in the world on the project

There is no question that venture capitalists can launch such a promising project, led by a elite team† While the product has not yet been clearly defined, funds such as Thrive Capital, Coatue Felix Capital, Ribbit Capital and Paradigm are at play. Especially the iconic background Andreessen Horowitz participated in the financing of the project.

Andreessen Horowitz is undoubtedly one of the most influential players in tech. This fund has actively contributed to the supply the “web 3” bubble of 2021. Bitcoiners will be happy to hear that such an influential player is also working to grow Bitcoin.

The arrival of VCs on Bitcoin is excellent news, as the protocol needs colossal funding to grow. Lightspark, Voltage, Lightning Labs, NYDIG… or even Bitstack to a lesser extent. Gradually, then suddenly.

After the absolute failure of Libra, this former Meta executive realized Bitcoin’s equity stake. Competing with states in monetary terms is a life and death struggle. Only a headless protocol as resilient as Bitcoin can declare war on the dollar. Neither Facebook nor Meta can do that. Granted, everything has yet to be built, but the Lightspark team seems formidable and promising. Case follows.

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Yanis A

Bitcoin changes everything! From a financial background, everything fascinates me in this technology. Every day I try to enrich my knowledge of this revolution that will enable humanity to progress in its conquest of freedom.

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