Bitcoin Industry Insights #2
10/5/2022 - 10/11/2022
💡 Daily Reminder: Stay humble, stack sats
Bitcoiners,
Today's newsletter highlights major Bitcoin industry news announced this past week.
Summary
Google to accept bitcoin as payment for cloud services
Bitcoin mining company Braiins partners with Spiral
Visa launches bitcoin debit cards in 40 countries
Weekly Roundup
Google to accept bitcoin as payment for cloud services
Google partnered with the crypto exchange, Coinbase, to allow bitcoin payments for certain services.
Coinbase is the largest crypto exchange in the United States. The collaboration will also bring Coinbase’s global data platform to Google Cloud. The partnership announcement is significant because it shows Google can no longer ignore bitcoin as a means of payment on its platform. It’s worth noting that Google will have access to a treasure trove of data from Coinbase as part of the deal.
Bitcoin mining company Braiins partners with Spiral
Both companies established a working group that will streamline processes for bitcoin miners looking to upgrade to Stratum V2.
Spiral is backed by Ex Twitter CEO Jack Dorsey and funds free, open-source bitcoin projects. Braiins is one of the leading bitcoin mining firmware and insights companies in the world. Stratum V2 is a communication protocol that helps miners all over the world get connected to the bitcoin network. The partnership is significant because it allocates resources to upgrading mining protocols that were created a decade ago, ultimately making the bitcoin protocol more censorship resistant.
Visa launches bitcoin debit cards in 40 countries
Visa partnered with crypto exchange FTX to allow citizens living in Latin America, Asia, and Europe to spend their bitcoin wherever Visa is accepted.
Visa CFO Vasant Prabhu stated in the press release, "as long as people have things they want to buy, we want to facilitate it”. After already launching the bitcoin-backed debit card in the US, this new expansion shows interest in other markets from both Visa and FTX. The partnership is significant because users of the debit card must have an FTX account in order to spend bitcoin funds, which will bring in a new wave of users to the platform, especially outside the US.
Weekly Roundup
Here are other noteworthy industry news articles from this week:
RIVER FINANCIAL RELEASES NEW LIGHTNING INTEGRATION CURRENTLY USED BY EL SALVADOR
SOUTH CAROLINA STATE TREASURER TRAVELS TO EL SALVADOR TO LEARN ABOUT BITCOIN ADOPTION
Happy Tuesday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
