According to Decrypt, Cuy Sheffield, head of Visa's blockchain, said in a blog post on Wednesday that despite all its flaws and problems, blockchain technology is similar to the early Internet, which is developing from obscurity to ubiquity. Sheffield believes that blockchain technology - in terms of its efficiency, associated costs and ease of use - may mature within the next decade.
Furthermore, he expects Visa’s payments network to involve more than just “multiple currencies and bank settlement rails, but also multiple blockchain networks, stablecoins and CBDCs or tokenized deposits.”