Jack Mallers

One of the youngest crypto entrepreneurs today, Mallers attained fame for founding Zap in the summer of 2017 as an intuitive noncustodial wallet to make payments over the Lightning Network.
Summary

Jack Mallers is a prominent figure in the cryptocurrency community as the founder and CEO of Zap, Strike's parent company. Strike is a popular no-fee app that allows users to quickly make and receive payments over Bitcoin's Lightning Network. Mallers was born in Chicago, Illinois, and is the third generation in his family to go into finance. He attended college at St. John's University in New York but dropped out after a year to attend a coding school in Chicago. He gained an interest in technology at the coding school and started building apps. Mallers was first introduced to Bitcoin by his father in 2013, but he began looking at cryptocurrency more seriously a few years later. 

In 2017, he recognized the potential of the Lightning Network to change the way we view payments. In the summer of 2017, he introduced Zap, a user-friendly non-custodial wallet that could make payments over the Lightning Network. Mallers' goal with Strike was to lower the barrier for using the Lightning Network. He believes Bitcoin, and specifically the Lightning Network, to be a superior payment network that allows for innovation, financial inclusion, accessibility, and cheaper, more efficient financial services.

Biography

Jack Mallers is a well-known entrepreneur and influencer in the cryptocurrency space. He is the founder and CEO of Zap, the parent company of Strike, a popular app facilitating Lightning Network payments. Jack attended St. John's University but dropped out to attend a coding school in Chicago, where he developed apps for wheelchair-accessible transportation and fitness trainers.

Introduced to Bitcoin by his father in 2013, Jack recognized the potential of the Lightning Network in 2017. He founded Zap, aiming to provide a user-friendly non-custodial wallet for Lightning Network payments. After facing initial challenges, Zap launched Olympus in 2019, simplifying fiat-to-bitcoin on-ramp transactions.

In 2020, Jack rebranded Olympus as Strike, a custodial platform allowing Lightning Network transactions using debit cards or bank accounts. Strike gained popularity for its fee-free bitcoin buying and selling options and became a prominent choice for remittances in El Salvador. Jack's advocacy centers around financial transaction accessibility as a basic human right.


Vision

Jack Mallers' vision is to make Bitcoin and the Lightning Network more accessible to the general public, particularly for everyday transactions. He believes that Bitcoin, as a decentralized and open-source technology, has the potential to create a more inclusive and fair financial system.

Mallers sees the Lightning Network as a solution to Bitcoin's scalability issues, enabling fast, cheap, and secure transactions that can be used for everyday purchases. He believes that the Lightning Network can become a new global payment network that provides financial inclusion and access to cheaper, more efficient financial services.

Through his company Strike, Mallers is working to achieve this vision by creating a user-friendly platform that allows users to transact with Bitcoin over the Lightning Network using their existing bank accounts and debit cards. By making it easy and accessible for anyone to use Bitcoin, Mallers hopes to drive the adoption of the technology and create a more decentralized and inclusive financial system.


Recognition and Awards
Forbes 30 Under 30: In 2019, Mallers was named to Forbes' 30 Under 30 list in the Finance category. Coindesk's Most Influential: Mallers has been named one of the most influential people in the cryptocurrency industry by Coindesk for multiple years. Bitcoin Pioneer Award: In 2021, Mallers was awarded the Bitcoin Pioneer Award at the Bitcoin 2021 conference in recognition of his contributions to the Bitcoin Lightning Network. Fintech Breakthrough Award: Zap, a Lightning Network wallet developed by Mallers, was named the "Best Cryptocurrency Wallet" by Fintech Breakthrough in 2020. CNBC Disruptor 50: Zap was also recognized as one of CNBC's Disruptor 50 companies in 2021. Chicago Innovator of the Year: In 2020, Mallers was named Chicago Innovator of the Year by the Chicago Tribune.

References
Jack Mallers
Occupation
Founder & CEO of Zap
Known for
Entrepreneur
Education
St. John's College
Social Media
Fri Feb 23 2024
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