Quote from: Astvile on October 12, 2019, 11:51:19 AM

There's a huge chance that this will happen, the day where we all use blockchain technology in every purchase we do in real life. Traditional payment processor and the use of blockchain will surely co-exist in the future and it will come for sure base on the development we are seeing in the blockchain technology, having them function at the same time will be a really great help.

Without a doubt, traditional payment processors will be able to use the same technology as Bitcoin within the not-so-distant future. As Blockchain is tested thoroughly by central banks, and corporations, we'll see it integrated into our existing financial infrastructure at a slow and steady pace. Traditional payment processors like PayPal, Visa, and Mastercard would not want to lose their position in the market by Bitcoin or any other cryptocurrency. With Blockchain's fast transaction settlement times, and lower costs, there's no reason why companies should avoid it in the first place.

Once popular payment processors like PayPal and Visa adopt Blockchain tech for their own benefit, then you could expect them to stay head-to-head against Bitcoin and other major cryptocurrencies within the mainstream world. Bitcoin may be slow and expensive nowadays, but it's still much cheaper and faster than wire transfers. Things will become even better for the pioneer cryptocurrency with the inception of the Lightning Network. With cheap and instant transactions coming soon into the BTC blockchain, more people will join the crypto cause. Traditional payment processors will see crypto as a threat to their very existence, leaving them with no choice but to join the revolution or be left behind in the dust.

Nonetheless, while Bitcoin serves to be advantageous in some ways, it won't be able to take down traditional payment processors in their entirety. The same thing happens vice versa. There will be a strict division between both camps (centralized & decentralized) leaving people with a wide array of options to choose from. This diversity will help improve our economy for sure as time goes by. Just my opinion