Fidelity Investments Is the Latest to Receive Lightning Torch
Pass the Torch
“We and our research team at the Fidelity Center for Applied Technology have received the #LNTorch from @Wiz Who should we pass it to? #LNTrustChain,” the tweet read.
The Lightning Torch is a concept similar to that of the Olympic torch. Members of the Lighting network are “passed” the torch and, in turn, must pass it to another group or individual.
The use of the Lightning Torch first began when a network member called Hodlonout sent 10,000 Satoshis to another member who then added 10,000 satoshis to the balance and sent it to another member. This chain has continued since then with several people, including an octogenarian and Jack Dorsey of Twitter receiving the torch at some point.
Fidelity assets received the torch and then passed it to the Harvard School Blockchain & Crypto Club, who will add another 10,000 satoshis to the balance and pass it on.
The Significance of the Torch
The passing of the Lightning Torch, like the Olympic torch, is merely symbolic and is designed to draw attention to its cause. It functions in the same vein as other Internet challenges such as the ALS Ice Bucket challenge which sought to begin awareness of the ALS condition.
“We have a massive seller network of businesses [of different sizes] […] We would love to make [Bitcoin payments] as fast and efficient and transactional as possible, and that includes looking at our seller base and our register. It’s not an ‘if,’ it’s a ‘when,’” he said.
As the torch continues to be passed around the corners of the Internet, more awareness will be raised, and further adoption will continue to be achieved.