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Venture Capitalist Billionaire Says Most of His 2022 Profits Will Come From DeFi -Breaking

by Mike Robinson

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A Venture Capitalist Billionaire Claims Most Of His 2022 Profits will Come from DeFi

During the “All-In-Podcast,” investors Chamath Palihapitiya, Jason Calacanis, David O. Sacks, and David Friedberg predicted the future events and trends for the year ahead. They discussed technology, business and politics as well as crypto.

According to Palihapitiya, the ‘biggest losers’ for 2022 are Visa (NYSE:) and Mastercard (NYSE:) “and traditional payment rails and the entire ecosystem around it.” Highlighting that, according to him, such financial service companies will be replaced by DeFi payment projects. Due to large transaction fees, Amazon (NASDAQ: UK) stopped accepting Visa.

It’s unnecessary for small businesses today to be on Visa Mastercard and AmEx rails. It’s unnecessary,”
He also shared his opinion on the podcast.

What Palihapitiya sees as promising is that “Web 3.0 crypto projects are rebuilding payments infrastructure in a completely decentralized way.”

A businessman warned about fraudulent, dishonest cryptocurrency projects. Palihapitiya expressed clearly that it is always important to read projects’ whitepapers to systematically put together their frameworks.

Flipside

  • The other three participants weren’t convinced about Visa and Mastercard going down.
  • Visa’s market cap stands at $500 billion; Mastercard’s is almost at $400 billion.

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