Billionaire investor Chamath Palihapitiya thinks Solana (SOL) will play a component in a market disruption that challenges the monetary supremacy of big fee firms.
In a brand new interview on the All-In Podcast, Palihapitiya says there’s been a surge in exercise prior to now 90 days within the funds sector.
“Visa and Mastercard, I feel, are doing the only dumbest factor they might do by being a duopoly, which is elevating costs, particularly into an inflationary second, which simply lacks full data and sensitivity of the second.”
Palihapitiya notes that the choice to lift costs “creates the motivation for disruption.” He sees the Ethereum (ETH) challenger Solana as a part of that upcoming disruption.
“This week, I used to be in a position to see a bit bit beneath the hood of Solana Pay, and that’s actually thrilling. So it’s all coming, I feel. It’s like a swarm of exercise to dismantle these funds companies.”
Solana Pay is a decentralized peer-to-peer funds protocol that launched in February.
“The core premise behind Solana Pay is that the fee and underlying know-how goes from being a vital service utility to true peer-to-peer communication channel between the service provider and client.”
Solana’s native token, SOL, is buying and selling at $101.96 at time of writing. The seventh-ranked crypto asset by market cap is up 2.5% prior to now seven days.
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