Visa head sees no threat to bitcoin

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Visa head sees no threat to bitcoin

VISA CEO Alfred Kelly said that in the near future, cryptocurrency does not threaten the leading positions of the payment system, but the company will support it as soon as this direction is becoming mainstream.

According to him, in the short and medium term future of the virtual currency as an asset class do not represent a threat to Fiat, which is the basis for the VISA product. In order for cryptocurrencies started to compete with traditional financial system, they need to get rid of status goods and to become payment instruments.

Alfred Kelly says that virtual currencies needed a market, so they approached the Fiat. The company strives to be the center of any payment stream world regardless of how it happens, and what tools are used. So when cryptocurrency becomes mainstream, VISA will start to work in this direction.

That Mastercard recently very actively explores the blockchain and recently received a patent for a fractional reserve Bank for cryptocurrencies, Alfred Kelly replied that they were trying so hard, just because less. However, previously, the two companies announced their plans for the assignment of cryptocurrency and ICO to high risk.

Despite ignoring cryptocurrency, VISA praised the blockchain technology. Recently, payment giant has announced that by the first quarter of 2019 integrates open source Hyperledger Fabric to your service for enterprise payments B2B Connect.

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