Similar to how credit and debit cards overtook cash payments for the first time in history, Fintech or non-bank transactions could very possibly overtake credit and debit card payments within the next decade. If so, Bitcoin will be at the forefront of it, providing the necessary infrastructure for a global user base to handle money with financial freedom and privacy.
The volume of electronic payments surpassed cash transactions in 2016, beating fiat for the first time in history. Bitcoin could overtake credit and debit card payments within the next decade.
Euromonitor International (EI), a global market intelligence provider, revealed that electronic payments settled with credit and debit cards nearly reached $25 trillion in the past 12 months.
The role of Bitcoin in the era of electronic transfers is vital in the sense that it still remains one of the only methods of money transfer that allows users to send money on a peer to peer basis within a decentralized ecosystem. The network itself isn’t prone to manipulation or vulnerability and a central entity or administration has no authority over the settlement of transactions.
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