Bitcoin is breaking records, surpassing $60,000 and being presented in the media as a revolution in many ways. Industry giants cannot continue to ignore the trend, and now VISA has spoken out.
The CEO of VISA commented in Fortune's Leadership Next podcast that they are working to make it possible to use Bitcoins with a traditional card, but not only that, in the future we will also be able to buy Bitcoins using a credit card, without having any technical knowledge of the subject, something unthinkable a few years ago.
VISA departments are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on ther network. This is a big change that will require a lot of work. VISA will be very thoughtful about which assets they support based on our principles for digital currencies, which focus on consumer protections and compliance.
When we buy with a card, we will be able to decide if we want to do it from our bank account or from our bitcoin savings, and the exchange would have to be done at the moment, because if we wait a few days, the value could be very different from the expected one.
Logically, the seller would see his purchase in the traditional currency, since the exchange is transparent for the seller, it would only affect the buyer, who would see his amount of bitcoins reduced, not his amount of euro, dollar or any other currency.
This move would expand the visibility and usefulness of bitcoin, as VISA has 70 million points of sale worldwide. It has not said when this action would take place, nor has it given details on how our wallet would be integrated with our card, but everything seems to indicate that it won't be long now.
And it is not only VISA, major banks around the world, and Mastercard itself, have already announced at the time that they are betting on this cryptocurrency, not only for Blockchain technology in general (which is already widely used in the banking world), so it seems that the rise of bitcoin is unstoppable.
Janeth Kent
Licenciada en Bellas Artes y programadora por pasión. Cuando tengo un rato retoco fotos, edito vídeos y diseño cosas. El resto del tiempo escribo en MA-NO WEB DESIGN END DEVELOPMENT.
Related Posts
How to get paid in Bitcoin: CoinBase, CoinGate
After explaining how bitcoins work and how to pay using this cryptocurrency, we will see how to get paid in bitcoin. Below you will find explained in detail how to do…
How to pay in Bitcoin: Hype and Coinbase
Once the wallet is created, let's see how to pay in Bitcoin to buy various products and services. If you have opened a Bitcoin wallet with HYPE, you can send payments…
How to Use Bitcoin: mining, wallets, payments
You have certainly heard of Bitcoin, the virtual currency that periodically makes people talk about itself because of its innovative and particular nature. In this case, you have probably also…
Mobile cryptophones on the market (legals)
As we have said, it is a market often at the borders of legality, also because these devices are particularly used by criminals. Some models, however, are also available through…
What is a Cryptophone and how it works
The so-called cryptophones, are anti-interception smartphones as they use encryption methods to protect all communication systems. Here are all the details and the truth about these "unassailable" phones. The recent Encrochat affair,…
PHP 7.2 will be the first Programming Language to add Modern Cryptography to its Standard Library
Last week, the voting phase closed on an RFC to add libsodium to PHP 7.2. The result was unanimous (37 in favor, 0 against). When version 7.2 releases at the end…