• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Visa
Nexo Logo

Visa CEO: Blockchain and Cryptocurrency Not “Much Use” to Company

Rick Delafont by Rick Delafont
4 years ago
in Bitcoin, Blockchain, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

The CEO of Visa Inc. has stated that he does not think that blockchain technology or cryptocurrency is useful to the international credit card company. In an address at Boston College yesterday, Alfred F. Kelly Jr. also stated that he felt the firm was a great example of a fintech success story.

Blockchain is Too Slow for Visa-Style Customer Payments

During a luncheon with executives at Boston College Executives Club, Kelly spoke about two of the hottest fintech topics of recent years – cryptocurrency and blockchain technology. In response to questions posed by audience members, the CEO stated that he did not feel either innovation is much use to Visa in the short-term.

Kelly stated that blockchain was designed to handle low-volume, high-value transactions. He went on to say that such value transfers were the opposite of what Visa had become known for. According to a report in BizJournals, Kelly said:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“It’s an interesting technology… It isn’t really at its core, for us, a good technology.”

He also claimed that the technology would never be able to handle the number of transaction that Visa could.

Despite his reservations about blockchain technology for consumer customers of Visa, Kelly did admit that there was room for the innovation in the company’s business-to-business department. He went on to talk about a blockchain-inspired platform that the California-based payments giant has been working on called Visa B2B Connect.

That said, like fellow credit card firm Mastercard, the company does have a dedicated research department studying the implications of blockchain technology and other bleeding-edge innovations. The group is based in Palo Alto, California and comprises of 275 specialists.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

When addressing cryptocurrency itself, Kelly said Visa was looking at the digital asset space, but does not think Bitcoin and other virtual currencies were much use as a payment vehicle in the immediate future.

Even though Visa executives are clearly not overly enthused by the fintech innovation that is blockchain and cryptocurrency, Kelly did claim his company was still a leader in the technology space:

“I actually tell people I think Visa’s the greatest fintech story in the world.”

He went on to highlight that almost half of all the company’s 17,000 employees work in technology as engineers or cybersecurity specialists.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

It hardly seems surprising that an executive that thrives on profits created by serving as a financial middleman would be unexcited by cryptocurrency though. Currencies built using blockchain technology completely remove the necessity of payment processing firms such as Visa.

As the technology continues to mature, it will likely pose a far greater threat to established players in the financial industry with or without the support of those most at risk.

Featured image from Shutterstock.
Tags: blockchaincryptocurrencyvisa
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

ethereum

Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge

2 hours ago
Ethereum Rejects $2k, Retest Of $1,800 Imminent

Ethereum Rejects $2k, Retest Of $1,800 Imminent

2 hours ago
Bitcoin Still Very Bearish, Says Peter Schiff

Bitcoin Still Very Bearish, Says Peter Schiff

5 hours ago
Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

6 hours ago
Solana

Why Solana Could Poised For A 40% Price Move To The Upside

7 hours ago
Dogecoin

Dogecoin Ready For 4th Straight Week Of Gains – Even Without Elon Musk’s Backing

7 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Tigon Mobile P2E Game Bless Global Pre-Registration Begins — “Expanding the P2E Ecosystem”

August 15, 2022

Revolutux, Solana, and Chainlink: Why the cryptocurrency market is optimistic about these names

August 15, 2022

The new Polygon Web3 platform, FrontFanz, signs over 100 more creators to join their platform

August 15, 2022

The Most Important Week For Ethereum: Final Steps Before The Merge

August 15, 2022

Gnox (GNOX) Expected To Deliver High Returns, Similar To Cronos (CRO) And Ripple (XRP) After Successful ICO

August 15, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.