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22 sats \ 6 replies \ @kr 31 Mar 2022 \ on: We are the founders of The Bitcoin Company, Ben and Ben, AMA bitcoin
Prediction time...
What products, services, or features will VISA build on Bitcoin or the Lightning Network over time?
I built a lot of bitcoin and lightning proof of concepts with Visa and the research team.
But you have to remember, visa serves the banks, and banks don’t really love bitcoin. When a major player starts to accept bitcoin as an alternative to paying merchant processing fees, I’d imagine a snowball effect begins and visa starts really moving on this front.
Until then, they’ve got a good thing going and game theoretically are not incentivized to change much.
Bonus: maybe an oracle? Visa is one of the most trusted brands in the world. Maybe custody services? They deal a lot with public private keys today and are well equipped with this. Maybe infrastructure? They have some of the highest uptime and reliability out of any company in the world.
But honestly, probably a CBDC platform for central and commercial banks.
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The idea of waiting around until they need to move makes sense.
Bonus sats secured, fascinating take on what VISA could launch in the future!
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My guess is probably nothing, they aren't very interested in bitcoin or lightning from what I've heard. The Visa crypto team thinks they are making a difference by buying NFTs
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Who will be the next traditional payment company to enter into the Bitcoin/Lightning space?
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I think you should attend bitcoin 2022
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👀
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