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Isn’t the whole idea of decentralized digital currency systems to eliminate intermediaries, maximize privacy and reduce transaction costs? The visa network stan
by vicvvv 6y ago
Isn’t the whole idea of decentralized digital currency systems to eliminate intermediaries, maximize privacy and reduce transaction costs? The visa network stands to lose the most, get seriously disrupted, more they are scrambling to stay relevant and frame this as a value added service.
- imtringued 6y agoLose the most? If people are moving onto Visa's Bitcoin network for some inexplicable reason then Visa is clearly winning because customers aren't fleeing into a competing startup.
- vicvvv 6y agoThe threat to visa is the crypto block chains disinter-mediates their incredibly profitable duopolies.
- throwawaysea 6y agoYea it not clear to me if Visa’s involvement is a good thing. I would want cryptocurrencies to break the Visa-MasterCard duopoly, to grant privacy from prying eyes (both companies and governments), and increase financial efficiencies by eliminating middlemen profiteers. This feels like a takeover of something with that potential that is meant to prevent that very outcome. Can someone with more expertise tell me why I’m wrong?