Visa is moving into Web3: What it means for the future of the financial industry and beyond

Blockchain is developing very actively in the financial sector. The idea of abandoning traditional banks and the state's relentless control sounds too attractive. But it is already clear that this is not tomorrow. Fiat money will be the dominant means of payment for a long time. There are companies that really want to change this situation, to reverse it.

Visa has stated that it has no plans to abandon the development of the Web3 industry. The company is actively searching for blockchain specialists: experienced Web3 engineers and programmers who know about crypto. 

The head of Visa's crypto division, Kai Sheffield, said on Twitter that the payment giant has an "ambitious roadmap of projects." This means that the company will do everything to promote the mass adoption of blockchain. In order to keep up with competitors and use the most up-to-date technologies, the company will develop its staff and select candidates in the most rigorous way. 

Benefits of Web3

1. Web3 means the development and implementation of blockchain. People will be able to independently manage the content they create. There will also be a real possibility of monetization.
2. Users are expected to own their personal data independently. It is also possible that cryptocurrencies will compete with traditional currencies.
3. The phenomenon of intrusive targeting and online spying will disappear.
4. It will be beneficial for users to participate in the development of the blockchain, and they will receive tokens for this.
5. Users will be pleasantly surprised by the ultra-high speed of data processing, incomparable to the modern one.
6. The source code of the programs will be published openly. 

At this stage, we see the beginning of the use of artificial intelligence, virtual and augmented reality. This is also a sign of the intensive development of Web3 in the near future. The Internet, which will require a minimum number of permissions, is already becoming a happy reality. However, much will depend on the pace of cryptocurrency legalization in those jurisdictions where their use is currently limited.