Visa and MasterCard Lose out in Competition with Bitcoin
Datalight analysts believe that the Bitcoin payment network will surpass the current giants Visa and MasterCard in the next 10 years. They conducted a fairly large-scale study, which was entirely devoted to the prospects of Bitcoin to become a global payment system. It should be understood that the network bandwidth Bitcoin does not allow to make instant transactions. For this reason, the developers have created special software Segwit and Lightning Network, which are able to solve this problem. Datalight believes that in the near future, Bitcoin will not only become a global transaction system but also leave behind the current market leaders Visa and MasterCard. According to them, this can happen in the next 10 years. They came to this conclusion after a detailed study of the dynamics of coin development from 2009 to the present days. Datalight analysts also analyzed a payment system PayPal, which was launched in 1998. It was created as an alternative to the existing "old school" of the payment industry: for example, Visa was formed in 1958, and MasterCard in 1966. In their study, analysts noticed signs of weakening of all major Bitcoin competitors on several indicators at once, one of which is the average transaction value:
  • Bitcoin – $41 615;
  • PayPal – $58;
  • MasterCard – $80;
  • Visa – $90.
The annual turnover of transactions in the Bitcoin network was $3.4 trillion, while PayPal had only $0.578 trillion, but MasterCard still has more than $5.9 trillion. Another advantage that Bitcoin has over its competitors is its decentralization, according to Datalight analysts. The efficiency of the first cryptocurrency network supports more than 10 thousand nodes, which are located throughout the world. It is worth noting that the abovementioned competitors have a much smaller number. We want to remind you: Subscribe to The Coin Shark news in Facebook: