Jack Mallers, a well-known software engineer and investor from Chicago, Illinois, is driving Bitcoin scaling through his businesses Strike and Zap. These systems allow for the scaling of Bitcoin by establishing peer-to-peer payment channels for it through the “Lightning Network.”
Jack Mallers is one of the youngest businesspeople in the ecosystem of digital assets. He was born on April 9, 1994. Jack was motivated by his father, a well-known computer scientist who also assisted him in the early phases of building his start-up.
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He started Zap, his first business when he was 26 years old. The business began by focusing on cannabis stores with a payment app. In 2018, when it first debuted, it sponsored two Colorado retailers.
While marijuana is still illegal nationally for recreational use, it has been legalized on a state level in most of the United States. This made it more difficult for retailers to find banking services.
As a result, Zap turned to cash and cryptocurrencies. Following an unsuccessful attempt to operate as a marijuana payments company, Mallers’ company fully converted into a cryptocurrency exchange. After realizing it wouldn’t work, he rapidly changed direction and entered a different sector.
|Full Real Name||Jack Maller.|
|Age (as of 2022)||28 years old.|
|Profession||Businessman, Developer, Media Face, and Entrepreneur.|
|Date of Birth||9th April 1994 (Saturday).|
|Place of Birth||Chicago, Illinois, United States.|
|Current Residence||Evanston, Illinois, United States.|
|Alma mater||St. John’s College.|
|Net worth||$4-5 million USD (approx.).|
Olympus, Strike’s original name, was introduced by Jack in 2019. In order to offer quick Bitcoin transactions, it has integrated the Lightning Network into its software. Strike takes pride in charging customers no fees to buy Bitcoin, making it less expensive than services like Coinbase, CashApp, and Venmo.
Three nations, including the US, El Salvador, and Argentina, offer a Current Strike. Only Tether is available on the platform for Argentina’s users.
President of El Salvador Nayib Bukele, who fought for the recognition of Bitcoin as legal cash, and Mallers grew close friends. As a result, El Salvadorans started using Strike as their preferred app for crypto transactions.
Strike attempted to serve as a contractor for the government of El Salvador in 2021 by assisting with the adoption of Bitcoin in that nation. Their offer was turned down, though. However, Jack’s app is still permitted to run throughout the nation.
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Earnings and Net Worth
Jack Mallers secured $4.5 million in backing from Greenoaks Capital to launch his first company, Zap. Even though the business was on the verge of failure, Jack managed to turn it around and make it profitable.
His current riches are largely derived from the Strike app, which is supported by numerous well-known companies. He doesn’t invest in other altcoins like Ethereum or Solana because he is a staunch supporter of Bitcoin. Despite the illiquidity of the digital asset, Jack enjoys a consistent net worth of $4 million.
Jack is not married and has not disclosed any information about his current or former relationships to the public. He is an extremely private person who values the privacy of his personal affairs.
Software developer Jack Mallers, 29, is the founder and CEO of Strike, a Lightning Network scalability solution (Zap).
Based on his ownership of shares in Zap and Strike, Jack Mallers’ estimated net worth is $4 million USD.