The TBD business unit of Jack Dorsey’s Block team has declared plans to construct a bitcoin lightning infrastructure. The Block’s product designer engineer announced that he will be departing the wallet team to join a specialized lightning infrastructure team. He announced,
“Our goal is to not only build the tools and infrastructure we need for our products but also to be additive to the Lightning Network ecosystem on the whole.”
Nick Slaney made the announcement in a Twitter thread. He went on to discuss the lightning network and how it enables worldwide payments to be made cheaply and quickly.
The company stated that, like all other Bitcoin-focused Block products, the plan to construct a lighting network architecture will include community plans and comments, as well as ideas from other bright people in the crypto sector.
“We’ll be partnering with, and building off the great work that cashapp and spiral have already done with lightning. Our goal is to not only build the tools and infrastructure we need for our products but also to be additive to the lightning network ecosystem on the whole.”
On Saturday, TBD, the commercial wing of Jack Dorsey’s NASDAQ-listed Block, unveiled Web 5, a new platform. The platform’s purpose was to build a decentralized web that puts you in charge of your data and identity, similar to the Bitcoin blockchain.
Web 5 will be constructed using blockchain technology components such as decentralized identifiers (DIDs), decentralized web nodes (DWN), and self-sovereign identity services, according to the website (SISs). DIDs provide a verified digital identity, DWNs provide a route for receiving and recording data, and SISs provides users with complete control over their accounts and personal data.
Doresy and Jay-Z’s Bitcoin Academy
Jay-Z and Jack Dorsey collaborated to open a Bitcoin Academy in Jay-hometown Z’s of Brooklyn, New York, to teach cryptocurrency classes. The new academy will give lessons to the Marcy Houses community to teach them about bitcoin.
Classes on “What is Money?” and “What is Blockchain?” will be offered at the Bitcoin academy.
The program, which is open to everyone, will also include a “crypto kids camp,” in which attendees will be given a mobile hotspot as well as a small amount of BTC to practice with.
In addition, Jay-Z and Dorsey have invested in a number of blockchain firms, including Alchemy, and have supported a bitcoin development initiative in Africa and India. Both of them are supporting the project out of their own pockets while also encouraging various crypto-related nonprofits to contribute.