From last year till now, we’ve witnessed a number of Bitcoin critics retaking their words and some regretting not investing in the currency due to the massive adoption and the shift of attention to the digital currency as an investment option. But the Chief Executive of payment giant company, MasterCard still remains unimpressed.
In a chat with Alan Murray of Fortune, the chief executive has stated that he prefers stablecoins and Central Bank digital currencies rather than Bitcoin;
“Central Bank digital currencies are really interesting. Stablecoins a little less so. Bitcoin, not really.”
Banga; a Bitcoin Critic
The chief executive has been known for his criticism against Bitcoin for a while now since about 2017 when he called cryptocurrencies in general a “junk” because of their illicit use cases and volatility.
Last year, as reported by a media outlet, U.Today, Banja stated that the volatile nature of cryptocurrencies will not attract massive adoption to the financial system but rather scare people off;
“Can you imagine someone who is financially excluded through a currency that could cost the equivalent of two Coca-Cola bottles today and 21 tomorrow? That’s not a way to get them (included). That’s a way to make them scared of the financial system”, Banga said last year, 2020.
Bitcoin Won’t Be Included on the MasterCard Network
The company was said to have stated that it would support a number of selected cryptocurrencies on its network according to a published blog post in February, this year. So far only stablecoins seems to have been added on the MasterCard network;
“To be completely clear, not all of today’s cryptocurrencies will be supported on our network. While stablecoins are more regulated and reliable than in the recent past, many of the hundreds of digital assets in circulation still need to tighten their compliance measures, so they won’t meet our requirements.”
The Company’s Vice chair also recently cleared the air about an article published by CNN saying the company would allow merchants to accept Bitcoin;
“Bitcoin doesn’t behave like a payment instrument. It’s too volatile and it takes long to transact”, said Ann Cairns.
VISA is Bullish on Bitcoin
As opposed to MasterCard, the Chief executive of VISA is bullish on Bitcoin and cryptocurrencies as he recently stated that cryptocurrencies might go mainstream soon and that the company is positioned to have a fair share of the technology as reported by CryptoTVplus.
Crypto YouTuber, Crypto Banter Asks his followers to take up McDonald Jobs
Cardano Founder Says Ethereum Will Flip Bitcoin
Rwanda to Begin Feasibility Studies on CBDC
Opposition Party Deputy Files Lawsuit against El Salvador’s Bitcoin Law
Bitcoin Can become Digital Gold – Mexico’s third Richest Man
Microstrategy Adds Fresh 13,005 Bitcoins to its Holdings
Point 72 CEO Says He’s Ready to Go all in to Crypto
UK Banks Place Ban on Crypto Purchases from Kraken and Binance
World Bank Refuse to Offer Help to El Salvador Per Bitcoin move
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
The Chances of BTC Dropping to 40k Is Slim – Prateek Suri
The founder and Chief Executive Officer of the Maser group, Prateek Suri joined Tony Obiajuru this morning, 15th March, 2021...
Binance Smart Chain; CeFi or DeFi?
The controversy around whether or not the Binance Smart Chain is centralized or decentralized was cleared on the Inside Blockchain...
How Earnathon is Making Crypto Adoption Easier
Earnathon is making cryptocurrency education and adoption easier with its unique learn and earn platform. It’s no news that the...
NaijaCrypto CEO Says CBN Cannot Ban Cryptocurrency Trading
The Chief Executive Officer of NaijaCrypto, Chiagozie Iwu has said on the Inside Blockchain Show powered by CryptoTVPlus that the...
Chiji14Exchange CEO Says Now is the Time for Everyone to Get Involved
The Chief Executive Officer of renowned Nigerian cryptocurrency Exchange; Chiji14Exchange, Mr. Chijioke John has stated on the Inside Blockchain Show...