Is there any Crypto Version of a kind of Mastercard or Visa Network?

[viralz]

Hi,

I am having a sort of newbie question.

I was looking by google and this forum to know any type of crypto to replace Visa/Mastercard type of work,... I didnt find any.
Is there any kind of this one available or anyone has an idea to make to compete with these Visa/Mastercard/Cirrus or any of it?
I am just curios to know it.

It seems Devs can make anything (P2P, Nodes, TOR Based, Smart Token, IoT Coins, etc)
and why not making sort of Visa/Master/kind of it?
or is there any (and why Mona, Token Card and TenX use Visa/Master)?


We can use any coin if a Devs make this kind of network.
https://www.quora.com/How-do-PayPal-MasterCard-and-Visa-work

[BillyBobZorton]

Hi,

I am having a sort of newbie question.

I was looking by google and this forum to know any type of crypto to replace Visa/Mastercard type of work,... I didnt find any.
Is there any kind of this one available or anyone has an idea to make to compete with these Visa/Mastercard/Cirrus or any of it?
I am just curios to know it.

It seems Devs can make anything (P2P, Nodes, TOR Based, Smart Token, IoT Coins, etc)
and why not making sort of Visa/Master/kind of it?
or is there any (and why Mona, Token Card and TenX use Visa/Master)?


We can use any coin if a Devs make this kind of network.
https://www.quora.com/How-do-PayPal-MasterCard-and-Visa-work

Visa/Mastercard are centralized solutions. Bitcoin and crypto projects in general aim to be decentralized, so they aren't direct competitors. Bitcoin can compete against Visa/Mastercard by means of a second layer solution such as the lightning network, in order to achieve the speed and cheapness required to give the average joe the required incentive to choose bitcoin over simply continuing their business as usual under Visa and Mastercard solutions.

So you have it there: the reason we aren't competing with Visa and Mastercard is because we still don't have segwit, which would allow for fully functional lightning networks on top of bitcoin.

[viralz]

So you have it there: the reason we aren't competing with Visa and Mastercard is because we still don't have segwit, which would allow for fully functional lightning networks on top of bitcoin.

Thank for the explanations,
I am also looking forward with Segwit,... or probably there is actually some other coins,... who know that we can compete with Visa/Master etc.
I just think it will be good if crypto land can do everything by crypto club.

I mean that we can probably switch crypto to fiat at any market location and we make it together (not like current crypto - debit card),.. I just dont know.

[U2]

There are a lot of cards for cryptos I couldn't name them all. If you're specifically looking for one that has credit they are few and far between. The network idea is easy to accomplish but it would be centralized.

[Variogam]

Bitcoin can compete against Visa/Mastercard by means of a second layer solution such as the lightning network, in order to achieve the speed and cheapness required to give the average joe the required incentive to choose bitcoin over simply continuing their business as usual under Visa and Mastercard solutions.

So you have it there: the reason we aren't competing with Visa and Mastercard is because we still don't have segwit, which would allow for fully functional lightning networks on top of bitcoin.

Nope, lightning network can not compete with Visa/Mastercard in the regard how many users can use it, because for every opening/closing lightning network channel you need Bitcoin onchain transactions as well, and this number is very limited today or after SegWit is activated (about 3 Bitcoin onchain transactions every second for all Bitcoin users)

[Qartersa]

I don't think it is possible. Mastercard and Visa is some sort of credit institution. Bitcoins are not credit. It is actually somewhat currency that you pay directly. Credit cards don't work the same way as bitcoins. Bitcoins are like debit cards, if you use it then it is automatically deducted to your balance. Credit cards are like loans, you buy something now and pay your bank a bit later.

[DOGE12321]

No that won't exactly work. First of all, such cards run on a centralized system. The core aim of Bitcoin and underlying philosophy of the cryptocurrency is to be a decentralized, peer to peer network. By instituting such cards we would be taking out the crypto in cryptocurrency.

Another thing is that the Bitcoin network, at the moment cannot compete with the speed and cheap transaction fee of Mastercard and Visa Networks. For such efficiency, we would need layer upon layer of lighting networks instituted. Segwit can improve the situation for now, but not in the future. When more people use Bitcoin, the block size issue would really boom.

So yeah, "there is not Crypto version of a king of Master card or Visa Network?"