Have you ever wondered what the future of credit/debit cards will be once CBDCs (Central Bank Digital Currencies) go public? People will no longer need to use a plastic card to pay for goods and/or services, as everything will be done through a mobile (or desktop) app. This means people will directly interact with the central bank for deposits and/or withdrawals. No need for middlemen like Visa or Mastercard. At least, that's what I think it will happen.
Do you think credit/debit cards will still be a thing after the launch of CBDCs? If not, why? Will payment processors like PayPal, Visa, and Mastercard survive? Your input would be greatly appreciated. Thank you.
We are talking about the future of Mastercard or Visa, which is currently still in the speculation stage. There is no definite answer about that. But it's okay for discussion.Do you think credit/debit cards will still be a thing after the launch of CBDCs? If not, why? Will payment processors like PayPal, Visa, and Mastercard survive? Your input would be greatly appreciated. Thank you.
Mastercare and visas are generally issued by government-owned companies or banks in each country. Of course, what is an asset of the government will be maintained.
We know that the existence of crypto today really helps transactions and guarantees security in the developed blockchain system. Then why is it still difficult for the government to accept crypto, isn't that something good.
If something new becomes commonplace in society, of course what happened before will be abandoned by society.
If the government accepts the blockchain system as the main transaction route, of course transactions at banks will stop, including Visa and Mastercard, and that will be detrimental to the country.