The Lightning Torch passes to Reid Hoffman, co-founder of LinkedIn
The Lightning Torch passes to Reid Hoffman, co-founder of LinkedIn

The Lightning Torch passes to Reid Hoffman, co-founder of LinkedIn

By Fabio Lugano - 28 Feb 2019

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The Lightning Torch is handed over to Reid Hoffman, co-founder of LinkedIn and former member of the board of PayPal, one of the most committed entrepreneurs in the field of new technologies. As explained in a tweet, Hoffman is honoured to accept it.

The Lightning Torch is a very active social initiative. Those who receive it are committed to passing on the Lightning Torch to another entrepreneur via a Lightning Network channel, adding 10,000 Satoshis to the initiative each time the Torch reaches a node.

The initiative aims to demonstrate the quality of the network and, so far, has collected more than 2 million Satoshis, a symbolic figure, but which serves to demonstrate the functionality of the system.  

Previous holders of the torch, born from a basic user initiative, include Anthony Pompliano, Klaus Lovgreen, Marty Bent, Andreas Antonopoulos and Elizabeth Stark.  

A hand-to-hand transfer that rightly reached Reid Hoffman who, since 2014, through a post on LinkedIn, had declared his trust in Bitcoin and its growth, due to the fact that it allows the management of payments in a direct way without the need for an intermediary.

While accepting the Torch, Hoffman said that LN is accelerating BTC’s acceptance of payments and its final adoption, but this was not the only case of LN’s diffusion in the recent past.

The branch of the Fidelity fund linked to cryptocurrencies, Digital Asset Service, publicly accepted a transaction through LN last week. This is an important event as the fund manages 2 trillion crypto assets.

Jack Dorsey, CEO of Twitter and Square, also recently spoke about the integration of LN into Square, a very important decision, although it is not yet clear how this will come about.


Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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