Will cryptocurrencies really change all financial structures?

Despite the current price collapse of the entire cryptocurrency market, things are not looking so bad considering the recent positive statements on cryptocurrencies issued by the chief spokesperson of Visa, a major global financial services multinational.

The prestige of the multinational financial services company Visa, which facilitates electronic fund transfers worldwide, most commonly through credit, debit, prepaid, gift and wallet cards, underpins any positive projection towards cryptocurrencies.

The statements I am referring to were offered by Cuy Sheffield who stated that cryptocurrencies will probably change all businesses, and therefore, as a company they are doing everything possible to help their corporate clients to understand and adopt cryptocurrencies to update themselves in the digital era that we live in and is coming.

In Sheffield's literal words he expressed the following "Over the past few years, we have seen the evolution of our clients' perspective on cryptocurrencies, from skepticism to awareness, to the realization that cryptocurrencies will likely implicate their existing business in some way."

Additionally the Visa spokesperson also said, "the findings showed an almost universal awareness of cryptocurrencies and that a significant portion of respondents (almost a third) have already used them as an investment tool or as a medium of exchange."

From my modest reading, just the simple fact that such figures as Mr. Cuy Sheffield have this perspective on cryptocurrencies speaks volumes about the promising future of cryptoassets going forward.

The cover image was designed by the author: @lupafilotaxia, incorporating image background: Author: Tynmagazine