Bitcoin will “surpass all competition” from other payment systems such as Visa and MasterCard within ten years if current growth continues, new research has concluded.


Bitcoin Will Beat Visa, MasterCard

In a study comparing Bitcoin to legacy payment providers, which also included PayPal, DataLight made the forecast after noting the cryptocurrency’s rapid advances since its inception in 2009.

“In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry. Bitcoin’s development is occurring exponentially,” the company summarized.

If it maintains this pace, in another 10 years, it will surpass all competition.

Visa first appeared on the market in 1958, followed by MasterCard in 1966. PayPal, which launched in 1998, has already established itself as a competitor to the industry veterans, while Bitcoin’s progress is even more rapid.

DataLight meanwhile goes further, forecasting that despite its current technical hurdles, Bitcoin will become the preeminent payment network of the…

Click to continue reading on its source location…

Source: https://thebitcoinnews.com/bitcoin-set-to-be-worlds-main-payment-system-in-10-years-new-research/