Quote from: Abiky on March 18, 2022, 05:48:01 PM

Every day, people are getting more used to digital payments with crypto due to the numerous benefits it provides. There are no chargebacks, no middleman, and lower fees. Comparing crypto against traditional credit/debit cards issued by banks, I'd say crypto wins by a long shot. Merchants and businesses are slowly accepting crypto as payment method, so we should see credit/debit cards lose traction in the long run. Even VISA announced that it will be using Blockchain tech for its own benefit.

The way I see this will turn out in the future is that credit/debit cards will cease to exist as they're replaced by stablecoins and decentralized cryptocurrencies like Bitcoin and Ethereum. Maybe VISA, Mastercard, American Express, and Discover will make stablecoins of their own? If credit/debit cards are eliminated, then we'll be on the right path towards a full-fledged cashless society. Instead of carrying with a physical wallet full of paper money or plastic cards, you would only carry a smartphone with a digital wallet containing the coins of your choice.

What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

I think cryptocurrency will not replace credit or debit cards. Not in the near future. Despite the slow mainstream adoption of cryptocurrencies in many applications, credit/ debit card has a different use case that people will still continue using them. I think both will smoothly co-exist in one way or the other will benefit both platforms. to become relevant to the business, the credit cards will utilize the blockchain to deliver a more secure and scalable service.

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