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Billionaire Chamath Palihapitiya says Visa and Mastercard will be the biggest business failures in 2022, losing out to altcoin-linked projects
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Billionaire investor Chamath Palihapitya has boldly predicted that Visa and Mastercard, two of the biggest payment processors, will be overthrown by emerging blockchain and DeFi projects in 2022.
«My biggest business loser for 2022 is Visa and MasterCard and traditional payment rails and the entire ecosystem around it,» he said in an episode of the «All-In Podcast» released Wednesday.
To him, the long-standing payment systems used all over the world are a «completely contrived duopoly that doesn't need to exist.»
Palihapitya, a former Facebook executive who runs the venture capital fund Social Capital, shared what he thinks will be the «most profitable spread trade» of his lifetime in the coming year.
«Be
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