As visa networks brakes down consumers are left searching at their draws for cash and pennies to do transactions. Governments all over the world want to go to a cashless society without taking into consideration one point vulnerabilities.
Taking Europe and the UK's back to medieval times for a while.
Quoting from the independent:
"Customers have reported arriving at tills to have their cards declined. Retailers say they have been left unable to take payments in shops, bars and other outlets, forcing them to resort to only taking cash or not making sales at all."
So this incident is where blockchain technology and its pure principle of decentralization comes to play. Hopefully they will see the truth and the future that comes with it. Better late than ever. Not that we can scale to world demand just yet. But when is demanded I am sure we will be.
Follow the link to get some info about the matter. You won't hear it at any mainstream media at least it wont be a reference longer than 15 seconds.
The solution is until this gets resolved to use Mastercard atm's for cash withdrawals the question is if that extra load brakes down Mastercard services or if it will handle the rising demand for cash, at extreme it brings questions to if there is enough cash at the atm's to cover consumer needs... Fun times ahead.
My opinion is that those moves will bring back cryptocards...
It will probably resolve soon enough some people are talking about hack at Visa servers. Still can't find mainstream coverage on the matter though. I need more details on the story.
If they found jow to hack visa... Then we must be prepared for money drop... :)
Shame really for the consumers,having to deal with this situation.Sad.
But on the other hand as you say,this whole thing can be an opportunity for cryptos to sneak into the real world. The technology is already here,we just need to spread the word.And I ain't talking about you and me,but all those powerful people around the world with influence.
There is not a single project that can scale for that kind of volumes yet. Scaling current technologies might take a while since the devs right now are getting to rich to fast and lose interest in developing more. Time will tell.
thank you for sharing so add my knowledge, i keep following every post, success to @skapaneas
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