The recognition of Bitcoin (BTC) as legal tender by El Salvador has unlocked new payment options for its citizens: even the well-known fast-food chain McDonald’s has started accepting BTC payments via the Lightning Network.
Journalist Aaron van Wirdum has shared the news on Twitter after visiting a McDonald’s in San Salvador, where he was introduced a QR code that directed him to an invoice page on the Lightning Network. McDonald’s currently has 19 locations in the country.
“I just walked into a McDonald’s in San Salvador to see if I could pay for my breakfast with Bitcoin, expecting them to say no.
But, listen, they printed a card with a QR code that directed me to a webpage with the invoice on Lightning. I am now enjoying a ‘desayuno traditional’! “
Just walked into a McDonald’s in San Salvador to see if I could pay for my breakfast with bitcoin, tbh fully expecting to be told no.
But low and behold, they printed a ticket with QR that took me to a webpage with Lightning invoice, and now I’m enjoying my desayuno traditional! pic.twitter.com/NYCkMNbv7U
— Aaron van Wirdum (@AaronvanW) September 7, 2021
Lightning is a Layer-two payment protocol designed to make BTC transactions more scalable. Although Bitcoin has found tremendous success as an investable asset, its adoption as a medium of exchange has been limited. Payments should have been the primary function of the digital asset, according tooriginal 2008 whitepaper written by Satoshi Nakamoto, in which BTC was clearly defined as electronic money.
Lightning Network will prove crucial if El Salvador hopes to achieve mass adoption of Bitcoin payments. In addition to the ability to carry out immediate crypto transactions, El Salvador’s adoption of BTC could greatly simplify global remittances, increasing the wealth of its citizens and attracting new entrepreneurs focused on cryptocurrencies to the territory.
Related: Salvadoran President Bukele confirms the first purchase of 200 BTC
El Salvador’s Bitcoin law officially went into effect on Tuesday. However, the news did not have the expected effects on the price of the cryptocurrency, down by more than 10% compared to yesterday. However, the contraction does not seem to have discouraged the Salvadoran government, which used the dip to buy the asset: El Salvador currently has 550 BTC in its reserves.
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