According to Odaily Planet Daily, Chamath Palihapitiya, the leader of Social Capital, recently made a bold prediction: stablecoins will become a key tool for wholesale transactions by 2025, fundamentally changing the existing payment landscape.
His prediction is not unfounded and is supported by solid data. Palihapitiya predicts that by 2024, the number of stablecoin transactions will exceed 1.1 billion, with a settlement amount reaching $8.5 trillion, a figure that is more than twice the transaction volume of payment giant Visa. Such a massive transaction scale is enough for stablecoins to occupy a significant position in the payment field.
In Palihapitiya's view, the rapid growth of stablecoins will directly challenge the long-standing duopoly of Visa and MasterCard. Especially in the context of rising credit card interest rates, stablecoins, with their low transaction fees and efficient settlement, will attract an increasing number of merchants and consumers to this emerging payment method. This will not only weaken the market share of traditional credit card companies but may also prompt them to accelerate innovation to respond to competitive pressure from stablecoins.
In addition to the impact on the payment industry, Palihapitiya also emphasized the important role of blockchain technology in transactions. He believes that blockchain provides unprecedented transparency and traceability for transactions, allowing every transaction to be accurately recorded and tracked, which greatly reduces the probability of fraud and errors, enhancing the security and reliability of the entire financial system.
It is worth mentioning that Palihapitiya is not the first to make forward-looking statements in the cryptocurrency field. Last year, he accurately predicted that Bitcoin would achieve mainstream adoption in 2024, and it seems likely that his prediction will come true. Against the backdrop of rising Bitcoin prices and the influx of more institutional and individual investors into the cryptocurrency market, the mainstreaming of Bitcoin seems to be unstoppable.
The rise of stablecoins and the mainstreaming of Bitcoin indicate that cryptocurrencies are gradually moving from the periphery to the center, becoming an undeniable force in the global financial system. In the future, with continuous technological advancements and ongoing market development, cryptocurrencies are expected to play an important role in more areas, bringing new opportunities and challenges to the global economy.
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