There are many individuals all around the world that believe that the future of global payments depends on blockchain, with good reason. It is possible for both individuals and businesses to send massive amounts of money across the world in real-time for a fraction of the amount that it would cost to send through other payment services. There are those that have wondered when credit card companies will start actively implementing blockchain, considering the size of the global credit card industry—and apparently, Visa wants to hire a product manager that understands cryptocurrency, CCN first reported.
There are many former Visa executives that have decided to join blockchain startups, and many believe that this helps prove the idea that the future of the global payment sector will involve blockchain technology. Kevin Jenkins joined a blockchain security startup last year by the name of Nuggets after he worked at Visa UK and Ireland, for example. A startup by the name of Crypterium has hired multiple individuals that used to work at Visa, as well. The job opening was found at Smartrecruiters, based in San Francisco.
Visa appears to be fighting back, as it clearly wants a crypto professional who is familiar with “permissionless blockchain technology” to join the team. It is unclear as to how exactly this role will shape the future of the global credit card giant.
Many believe that Bitcoin will eventually disrupt the entire financial sector, to where both credit cards and money transfer services—such as Paypal—may even eventually become obsolete. While there are some that disagree with this sentiment; the truth is that JPMorgan Chase, one of the most well-known financial institutions in the world, has developed its own stablecoin “JPM Coin,” when many finance executives, including JPMorgan CEO Jamie Dimon, have been downplaying the sector.
Some believe that this will lead to Visa creating its own cryptocurrency. Interestingly enough, the CEO of Visa Al Kelly has downplayed the idea of Bitcoin as a “payment system player” early last year. He also called Bitcoin more of a “speculative commodity,” as well.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.