And Now Visa Wants To Enter Crypto

[The Sceptical Chymist]

Kind of madness with that giant companies

While many of us may cringe that big corporations are trying to see what they can do with blockchain tech (and none of them have done anything useful yet that I know of), it's to be expected.  Bitcoin and the technology behind it are just that awesome, and I don't really find it to be a bad thing since they're not attempting to destroy bitcoin.  Any time something revolutionary comes along, these big companies are going to exploit it for their gain--that happens every single time, and it's how they stay competitive.

From all that news i see that there is no more talks about illegal use of crypto currencies what is best news

Yeah well, it's a bit silly for that to be making news anyway.  That just shows you how brain-dead and pandering the news media outlets are, that they would magnify that aspect of bitcoin and ignore the fact that every single government-issued fiat currency has been used for illegal purposes since the beginning of money.  The dunces eat it up.

[nur rochid]

Of course, Visa wants in on crypto. You must be living in a cave if you don't know that blockchain technology will flourish and take over the world. And we know that tokens/coins and their use are what makes the blockchain network valuable.

of course they have realized the potential for blockchain in the future. and that means the blockchain will bring the cryptocurrency to prosper together. with the desire of the visa it means that more and more companies will become aware

[adamlillian]

apparently blockchain is being loved by financial businesses and wants to add their service tools. These are considered smart steps of those businesses.
I believe that in the future, all commercial businesses will use blockchain technology because of its convenience and speed.

[Ranly123]

Good news, VISA is no brainer a huge company.

So this is the result of what they've said before that crypto's aren't threat and the planned made was last year of moving to crypto assets.

They already made all opponents offside while themselves entering the crypto area. It is meaningless to have VISA cards if there is a better alternative for making payments in both real and online life.

VISA cards is still useful even if there is alternative in digital means. Of course cards are useful in verifying that you have already paid your Visa or a proof that you have undergone the process.

[deisik]

Visa seems to be interested in creating their own cryptocurrency

That remains to be seen, actually

Personally, I see no plausible reason why they would be interested in developing their own cryptocurrency. From my perspective, it is more like trying to get into something which you can't prevent or forestall, i.e. they will try to use cryptocurrencies in order to squeeze more profits from their operations

At first glance it seems like a good idea as it means more adoption, but on the other hand, as the saying goes, beware of Greeks bearing gifts and Visa making inroads into cryptocurrencies. This gift may turn out to be a Trojan horse of sorts (sorry for bringing in a lot of mythology here)

[CoinEraser]

I assume they are going to perform transactions on their own blockchain and if they launch a cryptocurrency it will only be available for VISA users.So i am not sure what impact will this have on the cryptocurrency market since this could possibly be a private coin, just like JPcoin is.

I can well imagine that Visa might want to reach new customers with it and they might offer a blockchain for everyone, even for people who aren't customers yet. That would make more sense to me than if they made a blockchain for there existing customers. I'm still torn back and forth, whether this is a good or bad news for the crypto world. But anyway, I'm curious about what and when VISA will be launched on the crypto market. 

[avikz]

I assume they are going to perform transactions on their own blockchain and if they launch a cryptocurrency it will only be available for VISA users.So i am not sure what impact will this have on the cryptocurrency market since this could possibly be a private coin, just like JPcoin is.

I can well imagine that Visa might want to reach new customers with it and they might offer a blockchain for everyone, even for people who aren't customers yet. That would make more sense to me than if they made a blockchain for there existing customers. I'm still torn back and forth, whether this is a good or bad news for the crypto world. But anyway, I'm curious about what and when VISA will be launched on the crypto market. 

I doubt Visa will ever launch their cryptocurrency (even if they may plan to create one) in the open market. What I foresee, Visa is probably going to launch a private blockchain and an exclusive cryptocurrency to be used within their network only. Even I don't think Visa customers will be able to use it directly. It will be more of a settlement cryptocurrency which would be used by Visa and participating banks for settling transactions without moving actual money from one account to another. 

[Lucius]

~snip~
From all that news i see that there is no more talks about illegal use of crypto currencies what is best news

This is not good, and it is far from best news for bitcoin. The fact that big companies like Visa, JPM or Facebook want to create their own coin, actually shows us their opinion regarding bitcoin. They want cryptocurrency which can be controled, and idea of decentralized currency is something totally unacceptable to them.

The truth is that the vast majority of people will like to use VisaCoin or FacebookCoin than bitcoin, because it's about trust and habit to remain faithful to well known things. On the other hand people who like the idea of bitcoin will continue to support the first decentralized cryptocurrency, maybe just for fact that banks, governments and large corporations for the first time in history have no mechanisms to stop something, at least not globally.

[Beerwizzard]

Kind of madness with that giant companies

While many of us may cringe that big corporations are trying to see what they can do with blockchain tech (and none of them have done anything useful yet that I know of), it's to be expected. 

Well, most of startups and ICOs also can't do anything yet. Generally for now only Bitcoin, Ethereum and Ripple did something worthy but even those projects are not really popular outside the crypto world.

From all that news i see that there is no more talks about illegal use of crypto currencies what is best news

Yeah well, it's a bit silly for that to be making news anyway.  That just shows you how brain-dead and pandering the news media outlets are, that they would magnify that aspect of bitcoin and ignore the fact that every single government-issued fiat currency has been used for illegal purposes since the beginning of money.  The dunces eat it up.

No one outside crypto community really cares about the blockchain innovations in some particular companies. And in is hard to blame them because there is nothing strange that artist is not going to read news about innovations in surgery. So normal people often see bitcoin mentioned in different social news: something about guns, drugs etc.
That is not really a fault of medias that they are not featuring the positive side of bitcoin.

[DAVETUN]

Yes am bullish about VISA joining  CRYPTO sure it will have lots of adopters, since they have an already product I expect  a the project they lunch on CRYPTO to be successful even during the bearish period we still have project succeeding.

[Pab]

It is all about money and profit
Biggest companies are entering in crypto .Facebook IBM is creating his payment system
big money are on the table so VISA doesn't want to be late
That is all about by  my opinion

[LeGaulois]

Difficult to know what VISA is planning to do with a "crypto team". If it' as about creating its own coin then f** that. If it's to build a service around cryptos then I would rather start to be worried to see the banking cartel entering the crypto world, we may be infested.

More big companies are entering either directly or not into cryptos that what it's supposed to be part of the mass adoption, but if everyone creates its coins we will end with millions of coins, instead to use what's already here. In the end, it will just be a random token like the points you earn on a website

[stompix]

That's great news. Time will come when all the tech giant companies will realize the usefulness of the blockchain technology either for tokenization of their products or for transpiracy then adopt the technology.  We already have the like of Facebook coming into the market and now Visa. very soon master card will join the party and many more fin and tech companies, resulting to the next bull run.

There will be no bull run based on those things.
Visa and others will look for their own coin and those will for surely pegged to the dollar, there will be nothing related to traditional cryptos and their appearance might be even worse.

From all that news i see that there is no more talks about illegal use of crypto currencies what is best news

Yeah, because they are going to create centralized, reversible, full KYC and AML coins.
And as I said it before, once they do this it will just serve them as fuel to attack more and more decentralized coins like BTC

Kind of madness with that giant companies

While many of us may cringe that big corporations are trying to see what they can do with blockchain tech (and none of them have done anything useful yet that I know of), it's to be expected.

And things won't change that fast anywhere soon.
People are trying to call everything a blockchain project even if in some cases it has less and less to do with a blockchain and far more with a traditional distributed database.

The blockchain is still in hype mode while things like FoundationDB and Cassandra are running systems with 10 times more nodes than all the shitcoins together.

[danielchris]

It's a good news for all who believe in crypto. Due to the popularity of crypto many others are in the line to join it.l think so. It's a good signal for future.

[Harlot]

I doubt Visa will ever launch their cryptocurrency (even if they may plan to create one) in the open market. What I foresee, Visa is probably going to launch a private blockchain and an exclusive cryptocurrency to be used within their network only. Even I don't think Visa customers will be able to use it directly. It will be more of a settlement cryptocurrency which would be used by Visa and participating banks for settling transactions without moving actual money from one account to another. 

This would probably be the most likely move done by VISA, they might just mirror what JPMorgan did with their JPM coin and just created a cryptocurrency in their own Blockchain to improve efficiency. "Cryptocurrency" for them would more likely be a in-network transaction that they will see what's coming and going in the system. Just by launching a cryptocurrency would only disrupt their main business and I don't think that banks tied to them would have a positive response on that matter.

[daarul50]

Everyone already knows bitcoin and they are smart how to manage bitcoin so they don't use bitcoin illegally for some transactions because all governments around the world also acknowledge this. The government is not prohibiting the use of bitcoin, it's just that they suggest not to use bitcoin as a payment system. As for the news about VISA receiving crypto, that is a good thing. the more adoption, the more people know bitcoin and believe in bitcoin as a transaction tool.

[omonuyak]

It will be a great developments if visa enter into cryptocurrencies as this will bring cryptocurrencies and bitcoin into lime line.  Many people are now taking interest in cryptocurrencies including the big financial institutions and we should be hopeful that bitcoin through this will recover.

[awawo]

Visa has always been a supporter of cryptocurrency and to that extent have not attack bitcoin or the rest of the other altcoin and at the same time visa have being using cryptocurrency with the payment platform since last year and that is even when Facebook and other social Media was blocking cryptocurrency ads.

[serjent05]

Good news but I don't think it can improve the market condition. As mentioned above, VISA is possibly looking to create their own "cryptocurrency". Though I'm not sure, but it's also possible that they will accept other crypto for the purpose of their business (collecting fees from transactions).

Anyway, looks like blockchain is going to stay.

Yea they maybe planning to launch their own cryptocurrency like facebook is planning to do and if ever they would want to accept other crypto currencies that might just be the leading ones like bitcoin and other known altcoins. Still interesting to watch how it is going to be with Visa. I've also saw some projects before that conducted ICOs about crypto-debit cards to partner with Visa but I haven't heard already how it work with them.

[pat4cryptoreal]

The management of Visa knows that they will soon become obsolete if blockchain technology is not integrated into their system. This is just an eye opener to other Fintech bodies.