Given how difficult it has been for Blockchain technology to scale since Bitcoin's inception back in 2009, it makes me wonder whenever Blockchain could beat VISA someday?
The potential is there for Blockchain to scale to many users. However, some crypto projects have sacrificed decentralization in exchange for high transaction throughput and low fees. Which is why, it cannot be possible to achieve decentralization while obtaining high scalability.
Nonetheless, do you think that it's possible for Blockchain tech to surpass traditional payment processors like VISA?
The potential is there for Blockchain to scale to many users. However, some crypto projects have sacrificed decentralization in exchange for high transaction throughput and low fees. Which is why, it cannot be possible to achieve decentralization while obtaining high scalability.
Nonetheless, do you think that it's possible for Blockchain tech to surpass traditional payment processors like VISA?
Technology Blockchain definitely has such prospects in the future. However, at the moment there are no projects that have come close to the speed of the VISA network.
As far as I know, Ripple is the fastest coin from the entire market, but even it is hundreds of times inferior to the VISA rate.