The Fact That VISA and Mastercard Are Big Names In Crypto Means We're VERY Early

Crypto is supposed to be by nature a borderless permissionless mostly-instant and cheap payment network(s). So why is it big news when Mastercard is getting into crypto, partnering with banks and developing crypto security software. VISA and JP Morgan have also linked to develop a cross-border payment system. VISA in general have put out a very crypto-positive overview document.

When we think about it, crypto should supersede everything VISA and Mastercard already does, but in addition to the above it is still a big thing when exchanges offer crypto debit card on either of these payment network.

The answer is simple. We are still very early. While crypto can do everything banks and VISA/MC can do and more, it's just that the network of individuals who are involved in crypto is not large enough such that for most transactions you may elect to do does not have the intended recipient with a crypto wallet who is comfortable receiving digital tokens.

The hype, enthuasiam and even willingness may be there, but the technology and user interface/experience isn't quite there. Until then, the perception of crypto will probably remain just a volatile high-risk high-reward investment. One day that will change, but just not today. I would like to see how this huge adoption wave improves on the tech however. Until then, keep accumulating at a discount in this bear market getting ready for bull market returns.