Vitalik Buterin: "We will need 2 years to replace Visa Inc"

TechCrunch is a magazine specializing in innovative startups and business models. Vitalik Buterin was invited to the TechCrunch Disrupt 2017 conference in San Francisco. This 3-day conference brought together 485 startups from around the world.

The Binary Vision of Vitalik Buterin

For Vitalik, there are currently two types of people.

There are those who have never heard of Bitcoin
…And the others.
This binary vision has the merit of being able to make a clear distinction on the current state of dissemination of information. This is reminiscent of Roger's curve, which is also known as the "law of information dissemination". The latter distributes the state of knowledge between the "early" and the "retarded". In your opinion, at what stage are we?

• Vitalik Buterin compares Ethereum to Visa network

Vitalik Buterin compared Ethereum to Visa at the turn of a sentence, in which he commented on the current slowness of Ethereum.

"Bitcoin processes a little less than 3 transactions per second (...) Ethereum actually makes five per second. Uber makes 12 runs per second. We will need two years ("a couple of years") to replace Visa. "

Compare Ethereum to Visa Inc. is daring, even if Ethereum is clearly present as the disruptive potential of this mastodon of fintech. Visa Inc. allows its users to exchange FIAT currencies via its dematerialized network, via a credit card. Its competitors are American Express and MasterCard. To give you an idea, here are some figures from Wikipedia:

Partner of 21 000 financial companies
2.5 billion Visa cardholders
Distinction important, this is a comparison. Vitalik was led to clarify his thinking in a tweet, where he said he had not said that Ethereum would replace Visa, simply that it would have a comparable network capacity.