Will Blockchain beat VISA someday?

[bittick]

Yes blockchain has the capability to beat Visa's but not at this moment it will take a long period. However the talks might be in progress about this also people and the government need to support if this is wanted to happen.

It might be true one day. Or if Visa is adopting the blockchain system then good for the crypto community.

not sure if they are adopting the blockchain and that will give a direct impact to the cryptocurrency. so far blockchain can evolve and break TPS that has gained by VISA. blockchain has a lot of potentials to get more TPS than VISA. I guess they are seeing an opportunity in blockchain.

[zulfi125]

Yes, blockchian can beat VISA in 2019, if bitcoin will legal in advanced counties than can be beat in 2019, this is depends on legality and also adoption of advanced countries.

[qtronix]

We can't say for sure. On the one hand, blockchain is a very promising technology that is popular. But on the other hand, it will take a lot of time to surpass the existing payment systems. But nothing is impossible, so I think the blockchain is capable of it.

[Omela44]

I could already imagine that the blockchain will beat visa someday, but that will certainly take a long time. I think we have to wait another year or two for that.

[Msworld83]

Blockchain is the technology were are using and can be much better in every area but comparing it to visa makes me look confuse as blockchain is a mode of payment but cryptocerruncy which use blockchain to run its ledger so cryptocurrecy can be better than visa but the two have both advantage and did advantage and I can see cryptocurrency eating visa with a huge gap as it is very easy and has no barrier in cross bounder payment on like visa which is a very unique ting that will swift the adaptation of cryptocurrency.

[Dobby070]

Given how difficult it has been for Blockchain technology to scale since Bitcoin's inception back in 2009, it makes me wonder whenever Blockchain could beat VISA someday?

The potential is there for Blockchain to scale to many users. However, some crypto projects have sacrificed decentralization in exchange for high transaction throughput and low fees. Which is why, it cannot be possible to achieve decentralization while obtaining high scalability.

Nonetheless, do you think that it's possible for Blockchain tech to surpass traditional payment processors like VISA?

Well, at this moment I see blockchain already surpassed visa in someways, transaction speed, reliability, robustness, and security is the things that I see block chain is way more better than Visa.

[cola-jere]

Given how difficult it has been for Blockchain technology to scale since Bitcoin's inception back in 2009, it makes me wonder whenever Blockchain could beat VISA someday?

The potential is there for Blockchain to scale to many users. However, some crypto projects have sacrificed decentralization in exchange for high transaction throughput and low fees. Which is why, it cannot be possible to achieve decentralization while obtaining high scalability.

Nonetheless, do you think that it's possible for Blockchain tech to surpass traditional payment processors like VISA?

I think the blockchain tech will eventually be adopted by financial institutions. They may even create their own cryptocurrency or agree on using 1 cryptocurrency for global use.

[Pffrt]

I've read a news about Visa adopting or launching blockchain-based system.

Here's the link (https://cointelegraph.com/news/visa-set-to-launch-blockchain-based-digital-identity-system-with-ibm-in-q1-2019)

I think it will not beat Visa, two will merge as Visa sees its potential.

That's what will happen eventually. Most of the traditional system will eventually go with the blockchain system since blockchain is more easier and transparent. Banks are already thinking of utilizing the blockchain and in some cases, they have already started to utilize.

[blackhawkeye1912]

It's not about blockchain beating Visa or other existing financial online transactions. It's about how these existing processes such as Visa using blockchain technology. The blockchain technology with its great potential will surely be use by financial institutions once blockchain is harnessed to its maximum capability.

[grifinmch]

need to process and could make this time for such a VISA. so even though this is good but hope to be able to make it happen it's not easy because of even still many rejections for crypto and also blockchain. but technological developments will not be dammed blockchain slowly began to be shown its existence as a viable technology to use.

[arkawa040]

I think that Visa and blockchain technologies are not competitors, on the contrary, when Visa will work on the principle of blockchain is a matter of time. Many companies are cheaper and more reliable to switch to blockchain technology because the quality of their products will become better.

[Amberum]

Compared to established markets and services cryptocurrencies look very weak, maybe because it is very young, maybe because it is decentralized.

[Stervyatnik]

Blockchain relatively recently appeared in our world, but it is developing very quickly.  so I think that technology will be able to overtake Visa in the near future!

[chakhigh]

It is very likewise that visa will adopt Blockchain somehow in the future.. Because, with the rise of new financial blockchain projects, like the current Gigzi, visa and other entities alike will be involved into the blockchain payment system too.. I say Gigzi will make the adoption process easier, because it will be partnered with local Banks to exchange and withdraw from crypto-assets to fiat currency. This is a solid step toward mass adoption and Visa has to follow the technology.

[valek.bruno]

It seems to me that if VISA had said that it would integrate the blockchain so that in the end it would really be possible to write down all the chains relying simply on the card numbers, that would be very cool.

[Abiky]

Yes blockchain has the capability to beat Visa's but not at this moment it will take a long period. However the talks might be in progress about this also people and the government need to support if this is wanted to happen.

Without a doubt, Blockchain would need full support from the government to be able to comply with standards and regulations, the same way VISA does. Once that happens, then Blockchain could go full-steam ahead in becoming highly scalable for the world. With the available technologies today, it's quite possible to design a high-throughput blockchain that would handle anything in its path.

The only reason why traditional payment processors like VISA and PayPal are still used today, it's because they provide convenience not found elsewhere. Given how Blockchain has become expensive and slow due to low scalability, people have preferred such payment processors over it. However, that may change soon as each day Blockchain improves in terms of security and performance for the world. We already have zero-fee blockchains (EOS, Steem, Nano, IOTA) which make borderless payments practical, especially for mainstream businesses. On the other hand, there are also near-instant solutions such as Nano, and IOTA, which allow infinite scalability for the masses.

Nonetheless, even if Blockchain doesn't beat VISA, it could become adopted by VISA to extend its reach to millions of people around the world. This is already happening, which means that Blockchain has already won, and it will be a part of our daily lives in the future. Just my opinion

[xuv500]

it has the petenzial to beat them But this can take many years becourse only next genrations will use Blockchain more then Visa to make payments.


kind regards

Yes block chain has the capacity to over take Visa but it will take few more years as people want to understand and the usage need to be formal without any restrictions also the entire nation need to Co-operate to get this happen.

[DominickA86]

Yes for sure! If you mean transactions speed, it is already happening, because there are so much blockchain that are promising up to 100k TPS and I think during the upcoming year, we would already see first blockchains that are fast enough.

[edmundo]

Obviously, the prospects are there with a lot of cryptocurrencies already finding acceptance as payment infrastructures and bills of exchange. Unfortunately, one of the major problems of the cryptocurrency technology is adoption, this is where VISA has covered enormous ground. Blockchain is only just getting started with several economies and population only becoming aware of its existence. Hopefully with time, more adoptions will come into place, elevating the utilization of the technology.

[Findingnemo]

Given how difficult it has been for Blockchain technology to scale since Bitcoin's inception back in 2009, it makes me wonder whenever Blockchain could beat VISA someday?

The potential is there for Blockchain to scale to many users. However, some crypto projects have sacrificed decentralization in exchange for high transaction throughput and low fees. Which is why, it cannot be possible to achieve decentralization while obtaining high scalability.

Nonetheless, do you think that it's possible for Blockchain tech to surpass traditional payment processors like VISA?

I am not sure still blockchain is capable of processing millions of transactions per second because in 2017 the number of unconfirmed transactions got too much higher and people need to wait for days and weeks even after paid $100 of fees.