RATE Group | Visa CEO: Blockchain and Cryptocurrency Not “Much Use” to Company
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Visa CEO: Blockchain and Cryptocurrency Not “Much Use” to Company

28 Sep Visa CEO: Blockchain and Cryptocurrency Not “Much Use” to Company

Posted at 21:08h in Cryptocurrency News by

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The CEO of Visa Inc. has stated that he does not think that blockchain technology or cryptocurrency is useful to the international credit card company. In an address at Boston College yesterday, Alfred F. Kelly Jr. also stated that he felt the firm was a great example of a fintech success story.

Blockchain is Too Slow for Visa-Style Customer Payments

During a luncheon with executives at Boston College Executives Club, Kelly spoke about two of the hottest fintech topics of recent years – cryptocurrency and blockchain technology. In response to questions posed by audience members, the CEO stated that he did not feel either innovation is much use to Visa in the short-term.

Kelly stated that blockchain was designed to handle low-volume, high-value transactions. He went on to say that such value transfers were the opposite of what Visa had become known for. According to a report in BizJournals, Kelly said:

“It’s an interesting technology… It isn’t really at its core, for us, a…

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