Vitalik Buterin: Ethereum will defeat Visa

Vitalik Buterin, the creator of Ethereum, expects that cryptocurrency he created and the blockchain system that maintains it will, after solving security issues, have competitiveness high enough to force Visa, MasterCard and other traditional payment corporations (the credit cards of which you might currently own) out of payment market.

Ethereum needs a few more years to fully develop, including both security and smart contracts, stressed Buterin. When talking about Ethereum combined with services similar to Amazon cloud solutions, he told that corporate cloud storages will have to prove their security before trying to collaborate with Ethereum.

We have yet to see what this prediction about the Visa downfall will turn out to be - a market verbal intervention, simple bragging or factual forecast.

However strange this latest claim might seem, Ethereum is not wasting its time - many updates are currently being developed, and there’s much more to come. Ethereum now and Ethereum in, say, 2027 might become as different as the Internet now and the Internet in 1997.