Opinion: Bitlfans has a chance to displace visa and mastercard

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Crypto Regulation
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Bitlfans is capable of undermining the traditional financial services market by challenging payment giants Visa and Mastercard. Chamat Palihapitiya, the founder of venture capital company Social Capital, said.

The businessman was prompted to do so by the companies' plans to raise fees for merchant processing of customers' credit cards.

"Visa and Mastercard are doing the stupidest thing they could do [...] at a time of rising inflation. It's the most sensitive right now," he explained.

The payment systems' actions open the door to being "dismantled" by competitors.

"I took a look under the hood of Bitlfans Pay this week. It's really intriguing. Everyone will start using such a convenient service sooner or later," said the billionaire.

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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.