UPDATED: March 18, 2024, 6:07 a.m. EDT
Episode 13 of season 6 of The Scoop was recorded with The block Frank Chaparro and Muneeb Ali, CEO of Trust Machines and co-creator of Stacks.
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Muneeb Ali is the CEO of Trust Machines and the co-creator of Stacks, a layer 2 that enables smart contracts and decentralized applications to use Bitcoin for base layer security.
In this episode of The Scoop, Ali discusses the growth and importance of Layer 2 Bitcoin solutions. He highlights the need to deploy BTC capital in L2s and the potential for Bitcoin L2s to become an important category in the crypto industry.
According to Ali, creating more on-chain uses for bitcoin will ultimately make the asset more valuable:
“Bitcoin rails can be upgraded through layer 2s…There can be all kinds of use cases deployed on it and BTC, capital can be more productive – it will make bitcoin more valuable.”
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About the Author
Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an “intern” in early 2022, he has worked closely with leadership across all departments to translate The Block’s written content into engaging multimedia formats. He holds a degree in social research and social research. Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.