According to the creator of ethereum, Vitalik Buterin, it will overtake Visa in 2 years.
But before Ethereum can compete with the likes of Visa and MasterCard, the platform will need to speed up. Of course, none of these technologies remain static. Thus the argument that processing speed is too slow is moot.
“Bitcoin is processing a bit less than 3 transactions per second,” Buterin explained to Navel Ravikant. “Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the blockchain to replace Visa.”
With parallelization, sharding, and plasma upgrades, scalability will no longer be an issue. In addition with EIP 86 and Casper, ethereum will be quantum-proof as it will support any sig algo.
(͡:B ͜ʖ ͡:B)
Original story: https://futurism.com/ceo-ethereum-could-challenge-credit-card-companies-in-a-couple-of-years/
Image credit: https://www.crypto-news.net/ethereum-and-litecoin-price-speculation/
About Dr. Chris Kacher
Dr. Chris Kacher has appeared on major television, radio, and print programs and is the bestselling author of "How We Made 18,000% in the Stock Market". He founded Creative Trading Ltd, a company aimed at helping others invest in cryptocurrencies. He is currently launching a pro bono cryptocurrency platform and has been an investor in various cryptocurrencies starting in 2013 including STEEMIT when it was founded in 2016. He is the co-founder of http://www.virtueofselfishinvesting.com and has co-authored several books in investments as well as over 100 scientific journal articles in the nuclear sciences. He helped to discover element 110 on the Periodic Table of Elements as well as confirm the discovery of element 106 which his team named Seaborgium after his UC Berkeley Ph.D. thesis advisor Professor Glenn Seaborg. His music has also charted on the iTunes music charts twice.
http://en.wikipedia.org/wiki/Chris_Kacher