The Bitcoin protocol is already more efficient than Visa at a very fundamental level.
The original Bitcoin protocol at scale is already more efficient than Visa and Mastercard at a fundamental level. Hyper-efficiencies are baked into every function of Bitcoin to create a very compelling case compared to the incumbent systems of old. Being an efficient, scalable network, Bitcoin was designed from the very beginning to support all of the world’s data transactions at very low latency. All Bitcoin transactions are data. All Bitcoin data are transactions.
Bitcoin was born with a low-level predicate language that can compute anything that any computer can do. This is called Turing Complete, or simply, a computer. When broadcast to the network, transactions with valued data become information. By removing and combining so many steps into one global, public ledger, the world’s data is accessible anytime, anywhere, to anybody with permissioned access. Not only is Bitcoin digital cash for the world, but an unbounded, highly efficient, borderless commodity monetary system.