There's no need to eliminate credit or debit as this will remain to exist forever even when the centralized economic system will collapse. The thing is when you can spend your crypto through debit or using credit card that can be paid with crypto and why not? Eliminating anything will not solve the problem or make crypto even stronger. The main thing is crypto needs to be integrated with various service like this to make sure if it has more and more utility usage in our real life. These payment methods can be integrated with crypto. Some people are also using this right now with crypto
It's better if all of payment mechanisms can co-exist
Topic: Will cryptocurrencies eliminate the need for credit/debit cards in the future? - page 5. (Read 786 times)
March 18, 2022, 05:54:20 PM
March 18, 2022, 05:04:11 PM
That's possible that those payment methods will have their stable coins or they're going to rely on CBDCs by each country that they support. But I don't think that credit and debit cards are going to stop. The thing is that, the more payment methods are going to exist because of this adoption and there could be an adoption also from most banks and credit and debit cards and, one possibility is that they're going to add crypto as an option for it.
March 18, 2022, 03:58:10 PM
Is CBDC a cryptocurrency? We may have a different view on this but I don't consider it as one. They are digital versions of fiat currency so no it won't just like how crypto cannot eliminate fiat.
I also don't see people adopting full decenttalization.
I also don't see people adopting full decenttalization.
March 18, 2022, 01:48:23 PM
I don't think cryptocurrency will eliminate Visa/Mastercard payment methods. It's because they also provide digital solutions though there is a lot of limitations. You won't imagine a world without paper money at least for more hundred years. Even there is no paper money digital fiat will exist for every nation. This means a master or Visa card will exist this way. Rather than you would get the freedom to load your card through cryptocurrency. That would happen only.
March 18, 2022, 01:36:04 PM
What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much. 
Since this concerns something that is in the future, maybe my answer will also be wishful thinking. so please forgive my wild speculation So far, the role of cryptocurrencies is still an alternative, and nothing more. Especially where I live, and maybe for 5 to 10 years credit still exists, where conventional transactions are still running. Even though technological sophistication is starting to spread in all directions, it will still be very difficult if a country still wants to take financing from a payments-based economy. I know that paper money is just paper with written and nominal pictures. The logic of thinking about paper money has actually become uncertain in some of the general public regarding the durability of the value behind it which is easy to print to your heart's content.Back to the growth of cryptocurrencies, if we refer to developed countries, 5 to 10 years it will be very clear how they can implement it well. Paper money payments may disappear and the role of credit cards will obviously be replaced by digital money systems.
March 18, 2022, 12:48:01 PM
Every day, people are getting more used to digital payments with crypto due to the numerous benefits it provides. There are no chargebacks, no middleman, and lower fees. Comparing crypto against traditional credit/debit cards issued by banks, I'd say crypto wins by a long shot. Merchants and businesses are slowly accepting crypto as payment method, so we should see credit/debit cards lose traction in the long run. Even VISA announced that it will be using Blockchain tech for its own benefit.
The way I see this will turn out in the future is that credit/debit cards will cease to exist as they're replaced by stablecoins and decentralized cryptocurrencies like Bitcoin and Ethereum. Maybe VISA, Mastercard, American Express, and Discover will make stablecoins of their own? If credit/debit cards are eliminated, then we'll be on the right path towards a full-fledged cashless society. Instead of carrying with a physical wallet full of paper money or plastic cards, you would only carry a smartphone with a digital wallet containing the coins of your choice.
What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much.
The way I see this will turn out in the future is that credit/debit cards will cease to exist as they're replaced by stablecoins and decentralized cryptocurrencies like Bitcoin and Ethereum. Maybe VISA, Mastercard, American Express, and Discover will make stablecoins of their own? If credit/debit cards are eliminated, then we'll be on the right path towards a full-fledged cashless society. Instead of carrying with a physical wallet full of paper money or plastic cards, you would only carry a smartphone with a digital wallet containing the coins of your choice.
What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much.
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