Are you ready to get rid of your credit cards?
For me, all those transaction fees are highway robbery, especially for small businesses
This is the best news I’ve heard so far in 2022!
Billionaire investor Chamath Palihapitya has boldly predicted that Visa and Mastercard, two of the biggest payment processors, will be overthrown by emerging blockchain and Defi projects in 2022 (Decentralized Finance)
He cited Amazon’s decision to ban Visa credit cards in the UK due to high transaction fees as one reason for his view
In fact, Visa and Mastercard have been underperformers in 2021, with their stock prices roughly flat year-to-date, compared with a roughly 27% gain in the S&P 500
The traditional financial system we’ve known for the last century is ending
The future of Fintech is well on its way and its revolutionary
Many of the monopolistic institutions we come to know will not survive while many new and innovative disruptors will continue to thrive
It’s going to be exciting but not without risk!
#fintech #digitaltransformation #economy #blockchain