Kroger ditching Visa for Bitcoins Lightning Network?

Adoption starts here

Kroger ditching Visa for Bitcoins Lightning Network?

And so it has begun…

Last week, the retail giant Kroger announced that Kroger and sister stores will no longer be accepting visa payments due to “excessive transaction fees”. Hundreds of stores and fueling stations would halt Visa payments in April.

On a previous Bits And Tokens live stream, we talked about Visa and MasterCard fee increases. At that time, our theory with some other crypto enthusiast was the possibility of merchants using cryptocurrency networks as an alternative payment method in the near future.

Needless to say, I am proud to announce Kroger has a meeting set up with The Morgan Creek Digital team to discuss possible low-fee options on the Lightning Network.

“The Lightning Network is a “Layer 2″ payment protocol that operates on top of a blockchain-based cryptocurrency (like Bitcoin). It enables fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem.”

 

 

Currently, Visa is the world’s largest credit card issuer with 323 million users followed by MasterCard with 191 million users, Kroger making this move is more than just bold. It’s daring and I like it, makes you wonder who else will follow.

 

Kroger is reportedly considering Bitcoin as a form of payment. Yesterday, Anthony Pompliano gave another update to his Twitter followers which seemed promising.

 

The potential for mass adoption is huge, no pressure Anthony but all eyes are on you. This could make history if done correctly; this will make the mainstream crowd more aware of the crypto sphere. This may lead to the run we’ve all been waiting for.

 

Kroger is moving fast. Their announcement of leaving Visa behind was on March 1st, word of the  Kroger-Lightning Network meeting on March 2nd,  they spoke with The Morgan Creek Digital team on March 3rd, and have until April to implement a new system to prevent a lapse.

 

This is one story we’re on edge about.

 

Happy Investing!

-Annalese

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