Ethereum founder, Vitalik Buterin, speaks out about credit card companies. In particular, putting Visa in his sights. The idea is that Ethereum can build a network and infrastructure that can compete, and overtake, Visa – the largest payment processor.
Unlike Bitcoin and its blockchain, Buterin wants to build an Ethereum network that has more utility. Something more companies and entrepreneurs can use to build applications upon.
The big highlight at this year’s TechCrunch Disrupt conference is Buterin’s quote about building up a network that will overtake Visa in a couple years … “Bitcoin is processing a bit less than 3 transactions per second. Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the blockchain to replace Visa,” said Buterin. Granted, he’s referring to Ethereum having Visa scale capacity and not actually replacing Visa, which in itself, is more powerful anyway.
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Article by Millennial Investing