The bitcoin lightning network is an off-chain payment channel that provides instant, high-volume micropayments while removing risk of trusted third parties. Recently, we had the chance to ask one of the inventors, Joseph Poon, a few questions surrounding this new technology and how they are planning to use the lightning network to benefit bitcoin users.
The companies and individuals who approach bitcoin technology with a 20th century mindset will find no success. They will seek to harness the innovation of Satoshi's invention, and in doing, will slowly realize that the killer application of this technology is to render them obsolete. Bitcoin is an evolution in our concept of the corporation, and a blueprint for decentralized, trustless, openly accessible commerce in the 21st century.