Payment processing titan Visa is seemingly poised to enter the cryptocurrency space after posting a job advertisement seeking crypto and blockchain experts.
Cryptocurrency offers people a tangible alternative to mainstream payment systems. However, for some time, there has been an ongoing issue with scalability.
While Bitcoin has cemented itself as a prime candidate for an alternative means of payment, it has previously been unable to compete with the transaction throughput and speed of mainstream payment processors such as Visa.
This issue is prevalent in many other cryptocurrencies as well. Scaling solutions such as the Lightning Network present Bitcoin with a means for competing with the likes of Visa and PayPal, but it is still some way off matching their capacity.
Bitcoin may now be facing another headache as Visa is seeking potential job candidates with fintech knowledge – particularly in relation to cryptocurrency and blockchain.
Specifically, Visa is on the prowl for people with a deep passion for the intersection of payments with cryptocurrency.
It is also seeking candidates who are “deeply familiar” with permissionless blockchains and who have a close network of experts in the “fast moving” crypto and fintech ecosystem.
Successful candidates will be responsible for executing Visa’s product strategy within the cryptocurrency system.
They will also be responsible for managing the product roadmap and collaborating with key stakeholders, and they will work closely with Visa’s research team to develop new products.
Successful applicants should be able to “anticipate how cryptocurrencies could impact payments”.
Regardless of the competition between crypto and mainstream payment processors, a giant such as Visa entering the space should bring more light to the world of crypto.
It remains to be seen whether Visa can successfully intersect the demands of mainstream payments with the fast-moving field of crypto and rival the likes of Bitcoin.
Interested in reading more about the intersection of the mainstream world and crypto? Discover more about whether banks are being hypocritical by refusing to work with crypto companies.
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