“Visa and Mastercard, I think, are doing the single dumbest thing they could do, by being a duopoly—which is raising prices, especially into an inflationary moment, which just lacks complete knowledge and sensitivity of the moment,” Palihapitiya said, speaking on the latest episode of the All-In Podcast.
“This week, I was able to see a little bit under the hood of Solana Pay, and that’s really exciting,” said Palihapitiya, who’s gained a reputation over the last couple of years as the “SPAC king” for his successful sponsorship of blank-check funds, or special purpose acquisition companies , that raise money in the public markets to buy private companies.
Solana Pay, a digital payment platform that runs on top of the solana blockchain network and can support a range of digital assets such as NFTs, claims to be able to compete with Visa and Mastercard in terms of transactions per second.
While solana is a decentralized network, it has sacrificed a high degree of decentralization for increased transaction speeds and low fees.