Visa CEO sees no use in cryptocurrencies and blockchain for his company
Crypt Crypto Economy This week, the CEO of Visa Inc. expressed his opinion on the utility of the blockchain technology and cryptocurrencies for the credit card company. During a social meetup with members of the Boston College Executive Club, Alfred F. Kelly Jr , Chief Executive Officer for the credit card giant Visa, commented that the blockchain and digital currencies do not represent a profitable factor for the company, at least in the short-term. Kelly – who is also the former president of American Express – explained that the blockchain was designed to work the opposite way of Visa, that is, handling low-volume, high-value transactions , adding that it is currently unable to process 65,000 transactions per second; something that the credit card company can do without any problem. However, he acknowledge that it has something appealing, “It’s an interesting technology,” Kelly said . “It isn’t really at its core, for us, a good technology.” Visa ...