Visa, the global giant of electronic payments, wanted to have its say about the cryptocurrency industry. The company, according to CEO Al Kelly, would be able to make them more useful, secure, and usable by the entire population thanks to its circuits.
This is very interesting, cause guys we're really close to mass-adoption in my opinion
Introduction
After a real race to buy cryptocurrencies, recently it was Visa and its CEO Al Kelly's turn to have their say. In the last few days, in fact, there have been consistent and sudden rises in coins such as DOGE and XRP, whose values seemed to have been consolidated by now. Now, however, Visa has intervened directly, stating that it could make cryptocurrencies more "useful, secure and usable." Its intent would seem to be to use digital currencies in the same way it uses cash.
The growing interest for cryptos
Although in 2017 the company, along with other payment giants like PayPal and Mastercard, had ruled out the possibility of employing coins like Bitcoin, today it seems that its thinking has changed dramatically. Initially, in fact, similar companies saw cryptocurrencies as some sort of threat to traditional payment methods. After Bitcoin's numerous bull runs, however, companies began to see the great potential of cryptocurrencies, which are capable of evolving digital payments to a much higher level.
This increased interest in the cryptocurrency sector, especially since the start of the pandemic, has also been noticed by Al Kelly. After the recent sudden rises of coins such as DOGE and XRP, the CEO has, therefore, wanted to take stock of the situation.
According to what Al Kelly said, Visa's intention would be to make cryptocurrencies of general use and eventually integrate them into their payment systems. This is what he said during the presentation of the quarterly results of 2021, describing cryptocurrencies as a kind of "digital gold", at the moment used as an investment system and not yet as a payment method.
Visa's Plans
Given its global presence, it would seem that Visa has some very interesting plans for the future. The CEO, in fact, stated that, momentarily, the company would be able to make cryptocurrencies more secure and usable even by the average user, who, relying on their circuit, could adopt them as a payment method.
Moreover, as seen, Al Kelly wanted to emphasize how the company considers Bitcoin as a real "digital gold" and stablecoins as a token that can be used for their daily purchases. This could mean that the company is planning to start collaborating with wallets and exchanges to allow users to make their purchases by taking advantage of cryptocurrency payment circuits.
Finally, the CEO said he believes that anyone will come to use stablecoins instead of FIAT money, especially for commercial uses. These could, however, also be useful for purchasing common goods and services. As for the use of digital currencies running on public blockchains, however, the idea would be to use them as additional networks, as is the case with RTP and ACH.
Conclusions
Day after day we are witnessing a real rush to buy cryptocurrencies.
Some buy them to hold them, as a sort of ''digital gold'' that could serve for future emergencies.
Others buy them to take advantage of market ups and downs, getting great profits at every close of trading.
Still others end up losing money through wrong trades.
What is certain, however, is that there is a growing awareness of this sector, even on the part of giants such as Visa, PayPal and Mastercard, which seem to want to replace traditional money.
As usual, the only way to not fall behind on important topics like these is to keep yourself always and constantly updated.
*This article was translated manually and with a translator software from my original post on theledger.it, so I'll attach the link to my article here.
If you want to improve your Italian and learn more about crypto arguments, just check out our blog by clicking on one of the links below :)
Learn More
- https://theledger.it/news/regolamentazioni/nuovo-approccio-normativo-su-criptovalute-e-stablecoin-per-il-regno-unito/
- https://theledger.it/news/for-fun-curiosita/il-bitcoin-mining-arriva-nel-circolo-polare-artico/
- https://theledger.it/approfondimenti/web-3-il-futuro-di-internet/
Bibliography
- https://www.fxempire.it/news/article/xrp-vola-sui-mercati-e-visa-pensa-di-aggiungere-le-crypto-165400
- https://www.coindesk.com/visa-may-add-cryptocurrencies-to-its-payments-network-says-ceo
- https://www.reddit.com/r/ethereum/comments/l8pwky/visa_may_add_cryptocurrencies_to_its_payments/
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