Solana (SOL) Is A Part Of Massive Disruption Of Global Payments

Solana is one of the Ethereum competitors that are making massive waves in the crypto space. Check out the latest reports about SOL.

It’s been revealed that the billionaire investor Chamath Palihapitiya thinks Solana (SOL) will play a part in a market disruption that challenges the financial supremacy of giant payment companies.

In a new interview on the All-In Podcast, Palihapitiya says there’s been a surge in activity in the past 90 days in the payments sector.

“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 also noted that the decision to raise prices “creates the incentive for disruption.”

He sees the Ethereum (ETH) challenger Solana as part of that upcoming disruption.

“This week, I was able to see a little bit under the hood of Solana Pay, and that’s really exciting. So it’s all coming, I think. It’s like a swarm of activity to dismantle these payments businesses.”

Check out the following notes:

“The core premise behind Solana Pay is that the payment and underlying technology goes from being a necessary service utility to true peer-to-peer communication channel between the merchant and consumer.”

At the beginning of this month, the Real Vision CEO said that he expects more development from Solana’s ecosystem now that the smart contract platform appears to be on track to outperform Ethereum (SOL/ETH).

“The SOL/ETH chart is super interesting. SOL has been relatively quiet in recent times but this chart is getting very close to breaking out. I have a feeling that there is a lot more to come from the Solana ecosystem. I’ve been long for a year or so now.”

Pal’s comment comes after SOL briefly surged above $140. At the time of writing, the crypto asset is trading at $101.58.