Visa and Mastercard are the main threat to Telegram Wallet

Will Telegram Wallet be able to compete with the number one payment methods in Russia and the world?

We all have credit or debit cards (Visa or MasterCard). Many people who follow new technologies are interested in the question: “Will Telegram Wallet be able to compete with the number one payment methods in Russia and in the world?”

Let’s see a few opinions that deserve attention.

For example, many Bitcoin Evangelists and Blockchain Enthusiasts believe that Telegram Wallet is unlikely to be able to pose a threat to MasterCard and Visa. At the same time, there is an opinion that Telegram wallet is perfect for transferring small amounts from one user to another. If in the country there are difficulties with fiat money or transfer through a bank, you can always use the mobile financial service. This will allow you to transfer funds quickly and safely.

The head of VTB’s department of digital transformation, Alexei Chubar, believes that social networks have repeatedly tried to create their own currency but do not succeed. Therefore, there is no platform with its own assets to compete with the traditional banking business. In contrast to the expert opinion, Blockchain Enthusiasts cite the example of the Chinese application WeChat.

On this bases, it can be concluded that the Telegram blockchain platform, while not supplant MasterCard and Visa, will at least provide intense competition.