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The Lightning Network Can Be Used to Improve the Telecommunications Industry
"The incentives in the telecom industry are we misaligned for stopping spam," he says. "I think there's a lot of reasons to give individuals the power to set their price" If you put a five cent, one-cent bounty on the call, it doesn't require much because they're trying to do it at scale. And I think that's where it's the tricky for these service providers."
Preston Pysh interviews Lyle Pratt, an entrepreneur of multiple successful businesses, and a telecommunications and spam expert. They talk about the intersection of the Bitcoin Lightning Network and how it offers a solution to the worsening spam and bots that litter our social media and phone calls.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:18 - Lyle's background as an entrepreneur founding Better Voice.
06:22 - The history of VOIP and how it relates to Bitcoin today.
06:22 - The 402 payment required in the SIP protocol.
10:24 - Lyle's story about finding Bitcoin at the intersection of telecommunications.
12:09 - What was the top thing he took away from successfully building and selling his first company?
14:15 - Lyle's newest company, Vida.
14:22 - Lyle discusses the basics of spam and why it's so prevalent.
24:53 - Spam can become worse with more decentralization.
35:42 - What does the Lightning Network bring to this problem?
54:54 - What Jiu-Jitsu and Bitcoin have in common.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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