Visa declares plan to take cash out of business in the UK
See the article below from The Telegraph. This war on cash is happening frighteningly quickly. Visa could have a huge impact within a 5 years period with this strategy of paying shops not to take cash. Couple this with governments getting rid of high denomination notes and desiring the ability to see everything we all do electronically and it will give crypto a huge boost from those of us that don't want to be monitored in every way. There should be some cryptos that will cost businesses less than Visa - so that will be our initial source of resistance.
Cash and low value coins (not crypto)in particular have their disadvantage 4 sure, taking time to count and tear the wallet if you collect too many...
And the fact that some coins cost more to be made than they are worth will lead to end...
Crypto is still young and I believe it has bright future!
Yes me too
The awesome thing about crypto there is less monitoring
Thanks for sharing
Thanks for sharing! Incentives from centralized entities to their reseller are well known, VISA and Mastercard already do pay-backs to industry clients. It is super interesting that they extend it to the small businesses!!! In the travel industry we have seen the same between GDS and travel agency, GDS are distribution channels for airlines and they pay TAs for each flight they book through their central systems. The airlines after years of malcontent are rolling out their own distribution system... a decentralized one! It's called NDC. So I see a similar story here, payment network try to centralize on their systems, but in the end they will be replaced by decentralized systems (or they will adapt to decentralized systems anyway). At least, I hope so :)
Upvoted and followed! Crypto ON!!!!