payments and strategy. From the point of view of currency, bitcoin hash rate I think thats interesting. A lot of the startups Vaux comes into contact with are targeting their products at millennials, which doesnt align with the target audiences of larger companies. Images via Carsten Windhorst/wired. However, he finds the attitude of some of those in the cryptocurrency space a little bizarre. I think its going to be really interesting how that currency stabilises, he said, adding: Like any other currency, although this might not be the best week to discuss it, at Visa we are very keen to facilitate that translation of currencies on a global. Startups need to do their homework and make sure theyre confident the service or product they are pitching is tailored to the larger companys needs. Ultimately, what were looking for is the technology and the component parts that we can bring into our platform and into our marketplace, that delivers a richer proposition, he explained.
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Areas of interest, vaux said some of the areas Visa is currently interested in include identification, device fraud, using cloud-based technology to take some of the pain out of online payments, digital receipting. With the big difference that you have total control over your money, nobody else. Speculative indeed, considering bitcoin prices lost about a quarter of their value in the past two days and were cut in about half since last month's record high above 19,000. Investopedia describes it, they are not backed by any physical commodity. Fiat currencies, such as the,.S. "My take is that bitcoin is much more today a commodity that somebody could invest in; and honestly, somewhat of a speculative commodity said Kelly, who became the chief executive of Visa in December 2016.
Another gripe Vaux has is startups pitching to him without having thought extensively enough about the future roadmap of their businesses. But even with the recent plunge, bitcoin is still up more than 1,000 percent in the past 12 months. "We basically told people they could buy at other accounts, not at Merrill Lynch Moynihan said.
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