Post
Topic
Board Bitcoin Discussion
Re: Is there any Crypto Version of a kind of Mastercard or Visa Network?
by
DOGE12321
on 10/07/2017, 00:20:33 UTC
No that won't exactly work. First of all, such cards run on a centralized system. The core aim of Bitcoin and underlying philosophy of the cryptocurrency is to be a decentralized, peer to peer network. By instituting such cards we would be taking out the crypto in cryptocurrency.

Another thing is that the Bitcoin network, at the moment cannot compete with the speed and cheap transaction fee of Mastercard and Visa Networks. For such efficiency, we would need layer upon layer of lighting networks instituted. Segwit can improve the situation for now, but not in the future. When more people use Bitcoin, the block size issue would really boom.

So yeah, "there is not Crypto version of a king of Master card or Visa Network?"