With advanced technology in every dimension related to Bitcoin payments, there’s still a new definition that is slated to take Bitcoin transactions to new heights. Majorly focusing on convenience and lightning transfer of BTCs between peers is the new tech partnership between Near-field Communication (NFC) and Lightning to upscale this endeavor. The news of this partnership deal has blown off social news handles, sparking conversations and talks right, left and center, with each person trying to unravel the possibilities of this futuristic payment system.
There are major countries that have already adopted NFC payment technology dominantly being used across Europe and Asia. The company (NFC) itself has scaled its operation to revolutionize each payment, using smartphones and microchips embedded in payment cards. Thus, potential users can be confident that the prospects here are positive. With Bitcoin having been accepted universally, initial users may benefit from this partnership.
Lightning, on the other hand, has been a reliable provider of secure, safe and professional Bitcoin wallets. Users across BTC markets have accepted lightning as a good and safe wallet to store and trade BTCs. As such, the proposal to partner with NFC might provide a standardized mode of payment between peers.
With this having been said, what’s the deal about this partnership?
As mentioned earlier that this new partnership will take BTC transactions to new heights, the primary focus is establishing a wallet that proves to be somewhat a point-of-sale terminal. This means that each transaction when you Buy Bitcoins, you will be provided with a receipt, with exclusive details related to your sale, or purchase.
The partnership will do away with the standard QR codes for enhancing transactions from smartphones.
In an interview with Coindesk, Cota (Lightning’s Presto Wallet developer) believes that NFC provides much better interphase and user-friendly experience. He also added that while using QR codes, merchants are not able to include and add much information to their transactions such as coupons.
From his point of view, it is evident that he wants to provide a system that is fast, with exclusive control of own finances. But he has worries that NFC still has no such offers, as he would wish, but an integration of the two (NFC and Lightning) should be compatible to implement the whole idea.
Major efforts will be employed by Lightning, to come up with a standard for implementation. NFC will be added to each standard to come up with a kind of invoice that states how much a person owes. So far, there’s a standard that allows an extension that requests for NFC ID and sends data indicating Lightning as the payment method.
Even though the two companies are yet to launch this new wave of Bitcoin payments, Cota says that the feedback from his technical team is positive. However, he fears that his BTC wallet (Presco) is not yet up to scale with its User interface. But all efforts to come up with a protocol that allows payment from Lightning while offline are also underway.
