Thanks to the Lightning Network, and the startup of the Moon, who wants to use Bitcoin (BTC) to buy on various e-commerce, including Amazon, can finally do so.
The startup crypto payment processing Moon has announced today that any Wallet that is compatible with the lightning network can be used through the eponymous browser extension Moon. Before the official announcement, already 250 people have used a Beta version to test these payments through Moon on e-commerce sites, by connecting to the browser extension to some exchange such as Coinbase.
The CEO of Moon Ken Kruger stated that:
This extension will display a QR code, and there is also the possibility to generate the invoice. Everyone will be able to pay with the Wallet that they want, as long as it is connected to the network, lightning network.
To clarify the matter, Amazon will not touch our Bitcoin (BTC). Kruger has refused to specify which financial institutions will take care of the currency conversion fiat in a back-end to allow merchants to Amazon to directly receive dollars, euros, or other currencies.
However, Kruger has added that by 2020, this capability should be operational on almost all e-commerce websites, regardless of whether the platform will accept the Bitcoin (BTC).
There is no direct interaction with the merchants. Moon manages the payment channels and offers a simple interface for sending money.
We are integrating with the networks, Visa and Mastercard getting a cut of the fees that merchants are charged each time they make a credit card transaction.
Taking a step back, the Moon was founded in New York in the last year and its staff is currently composed of 3 people, with only a $ 100,000 investment from the Entrepreneurs Roundtable Accelerator. The chief executive officer of the age, Murat Aktihanoglu, said to see the Moon as one of the few companies in the field of crypto that has potential still remains profitable in the coming years.
We have invested in the Moon in the long term.
There are many opportunities to solve problems related to usability. All of this will also serve to increase the adoption for the cryptocurrency.
The functionality of this browser extension is still under review by the Chrome Web Store, and Moon expects that Wednesday will be the actual launch.