The crypto ecosystem has been wronged - here's how

You read that right. 

Whether we’re talking about Visa or MasterCard being hostile towards the potential that this tech holds, or various financial institutions formulating rules that are meant to drag this tech into the wrong light - there’s a lot of hostility towards the tech.

Yes, the crypto ecosystem might not be perfect. It comes with its flaws and imperfections. But, they’re being worked on and resolved, one step at a time. This process will be a lot smoother and faster if we were on the same page about things. 

The hostility towards this tech is hurting not only the people involved but also the companies. When Visa and MasterCard banned the use of their networks to pay for cryptocurrencies and fund e-wallets, the users could no longer fund their crypto wallets via credit card, and many suspected it would impact card issuers as more people entered the crypto market.

And that is what it precisely did. 

A recent earnings call by MasterCard revealed the company had experienced losses since it announced the ban in the first quarter of 2018. The result, while not conclusive, is indicative of the increasing popularity of cryptocurrencies as a payment method and shows that people are searching for creative ways to integrate these novel solutions into their everyday activities.

Visa, the world’s largest credit card company, is also regarded as being hostile to the inclusive crypto ecosystem. It would seem intuitive that a traditional financial provider should look unkindly on anything that threatens its hegemony. Publicly, though, the company has had very little to say about the ecosystem, preferring to focus on matters within its own domain. But looking at the regulations, one can come to correct conclusions without difficulty. 

And this is not it. Even the rules and regulations that surround the ecosystem are extremely stringent. So much so that they even suffocate the possibilities of any further research that can maybe remove these cloud of doubts.