In recent years, several people have emerged as influential figures in the Bitcoin industry, and one of them is Jack Mallers, an American entrepreneur and software developer. He is the founder and CEO of Zap Solutions, the company behind the Strike payment app.
This article dives into his story and projects, which are helping to drive Bitcoin adoption globally.
Let’s dive in!
Table of Contents
The Story of Jack Mallers
Jack Mallers was born in 1994 in Chicago, Illinois, into a family with deep roots in the financial sector.
His grandfather served as president of the Chicago Board of Trade, and his father founded one of the city’s largest futures brokerages. Growing up in this environment, Jack developed a unique vision for the future of money.
Mallers began his studies at St. John’s University in New York but decided to leave after a year to attend the Starter School, a programming school in Chicago.
During this time, he was also a nationally ranked chess player.
At Starter School, Mallers discovered his passion for technology, where he began developing various apps, including a tool for finding accessible transportation for wheelchair users and an app for personal trainers to manage their clients.
In 2013, Mallers became interested in Bitcoin, recognizing its transformative potential and the importance of decentralized currency in the digital age. This interest led him to dive deeply into Bitcoin technology and the Lightning Network, a solution that enables faster and more affordable Bitcoin transactions.
What is Zap Solutions?
In 2017, Jack Mallers founded Zap Solutions, a company dedicated to developing Bitcoin and Lightning Network-based solutions.
Zap Wallet
The company’s first product was Zap, a non-custodial Lightning wallet designed to make using the Lightning Network easy for the general public.
Originally, Zap was created to support cannabis shops, many of which faced difficulties accessing traditional banking services and had to rely on cash due to the illegality of marijuana in certain regions.
In 2018, Zap began working with two cannabis shops but encountered challenges in establishing itself in this market, undergoing several adjustments during its early years.
Olympus
In September 2019, Zap Solutions launched Olympus, a tool designed to simplify buying Bitcoin with traditional currencies, like U.S. dollars, while also enabling use of the Lightning Network.
With Olympus, users could purchase Bitcoin easily via their bank account, debit card, or other payment methods, and then use it for Lightning Network transactions, with funds deposited directly into their wallets.
However, Olympus required users to manage their own Bitcoin, which introduced tax complications Mallers aimed to address.
In 2020, Jack Mallers launched Strike—a new platform that tackled these challenges, making Bitcoin even more accessible and user-friendly.
Launch of the Strike App
The 2020 launch of Strike marked a major milestone in Jack Mallers’ journey.
Strike was designed to simplify Bitcoin’s use, enabling anyone to send and receive money instantly through the Lightning Network.
Unlike other solutions requiring users to manage their own Bitcoin wallets and handle buying and storage, Strike allows people to use their traditional bank accounts or debit cards. This makes it far easier for the average user to make international payments, transfer money to friends, or even purchase goods and services, with Bitcoin operating seamlessly in the background.
The app was initially released in beta, with Mallers encouraging users to experiment and provide feedback. The positive response and enthusiastic support from Bitcoiners accelerated Strike’s growth, making it now available in multiple countries.
Influence in El Salvador
Following the launch of Strike, Jack Mallers became a prominent figure in the Bitcoin world, frequently invited to speak at conferences about his vision for the future of money and the importance of open, decentralized financial systems.
Additionally, Mallers believes that easy access to financial systems is a fundamental human right. With this vision in mind, he identified El Salvador as an ideal place to expand Bitcoin’s use, aiming to promote greater financial freedom and inclusion for its citizens.
By saying that, in 2020, Mallers spent three months in El Salvador, immersing himself in the Bitcoin Beach initiative to understand how Strike could help address international remittance issues.
In 2021, while still in El Salvador, Jack Mallers received a message from President Nayib Bukele’s brother, requesting a meeting. This led to a series of discussions with President Bukele, where Mallers became a key advisor to the Salvadoran government.
As a result, he played a significant role in developing the infrastructure needed for El Salvador to adopt Bitcoin as legal tender, capturing global attention.
At the 2021 Bitcoin Conference, Jack Mallers delivered an inspiring speech on the opportunities available to nations adopting Bitcoin. During the event, President Bukele surprised the audience by announcing that El Salvador would make Bitcoin legal tender.
The Money Matters Podcast
In July 2023, Mallers launched a personal project, the podcast “The Money Matters,” where he discusses topics related to Bitcoin and the economy.
In his podcast, he brings on various guests to explore these subjects in depth.
You can check it below:
Conclusion
As we’ve seen throughout this article, Jack Mallers has a clear goal: to make the financial system more accessible and fair for everyone. He believes that Bitcoin and the Lightning Network can transform the global economy, offering an alternative to the traditional banking system, which is often slow, expensive, and inaccessible to many people around the world.
His work at Strike embodies this vision, making it easy to send money instantly and at minimal cost, regardless of borders.
But Mallers’ impact goes beyond Strike.
In 2024, he announced a $100,000 donation from Strike to the OpenCash Association, a nonprofit dedicated to developing open-source projects based on Cashu.
Additionally, Jack Mallers plays an important role in Bitcoin education, sharing his knowledge and insights through social media, his podcast, and speaking at major conferences like the Bitcoin Conference, Oslo Freedom Forum, and Baltic Honeybadger.
I hope you enjoyed learning about Jack Mallers’ story.
Until next time, and Opt Out!
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Founder of Area Bitcoin, one of the largest Bitcoin education projects in the world, she is a marketer, passionate about technology, and a full-time hands-on professional. She has participated in major Bitcoin conferences such as Adopting Bitcoin, Satsconf, Surfin Bitcoin, and Bitcoin Conference.
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