Has Visa’s CEO officially stood up against Bitcoin?

A war has unofficially been declared to fiat money by cryptocurrencies, and various people and companies expressed their thoughts about such statement being true or false. Some in the financial world are openly worried about these cryptocurrencies and their dangers, while others announce publicly that there’s nothing to be afraid of them at the moment. Visa’s CEO is on the side of those who claim that fiat currency has nothing to fear about Bitcoin, but that at this point, for its users, it’s more of a risky asset than anything else.

The Visa Company is one of the biggest credit cards companies in the world, and they are actually not considering Bitcoin or any other cryptocurrency as a threat to their hegemony. As for now, cryptocurrencies doesn’t actually play on the same field as credit card companies, because it can’t be used yet on a daily basis. Indeed, these cryptocurrencies’ values are bound to change on a really fast pace, and it’s very unsafe to use them even just to buy thing.

Visa and cryptocurrencies in general

A war has unofficially been declared to fiat money by cryptocurrencies, and various people and companies expressed their thoughts about such statement being true or false. Some in the financial world are openly worried about these currencies and their dangers, while others announce publicly that there’s nothing to be afraid of them at the moment. Visa’s CEO is on the side of those who claim that fiat currency has nothing to fear about Bitcoin, but that at this point, for its users, it’s more of a risky asset than anything else.

The Visa Company is one of the biggest credit cards companies in the world, and they are actually not considering Bitcoin or any other cryptocurrency as a threat to their hegemony. As for now, cryptocurrencies doesn’t actually play on the same field as credit card companies, because it can’t be used yet on a daily basis. Indeed, these currencies’ values are bound to change on a really fast pace, and it’s very unsafe to use them even just to buy thing.

Bitcoin as a payment system: is it possible?

The initial purpose of the Bitcoin was to be used as a payment system. Its scarcity goal is to give it some value, and the blockchain was to ensure its safety against hacking of any sort. It is designed in order not to be controlled by any government or institutions, and it would have allowed a lot of freedom to its users. But unfortunately, accordind to VISA’s CEO  it isn’t the case, because Bitcoin and its friends are in the middle of various financial speculations.

Because people tend to buy or sell it at a very fast rate, they are actually unusable as a currency. You are not even advised to keep some cryptocurrencies more than a few hours because the prices are changing too often.

As for using it on daily basis, it’s out of the question yet, but things are evolving, and some experts says it’s a matter of time before it will be.

Visa’s decision to cut ties with European cryptocurrencies

The credit card company recently decided to stop its allowance of its services to several cryptocurrencies companies based in Europe. The main reason for such decision has been claimed to be a non-appliance of these companies to the rules of Visa. Such action reinforce that Visa doesn’t trust the cryptocurrencies at the moment, and doesn’t want to be involved with it in any risky way. Thus, if these companies want to use debit cards, they will have to go to another company than Visa.

However, Visa mentioned such decision hasn’t been made to declare any kind of war to cryptocurrencies. They did that in order to protect their interest, and for the sake of their customers as well. Some people in the Bitcoin community couldn’t help but notice they made this announcement only a few days after US treasury mentioned Bitcoin as a threat to American economy.

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