Verizon company is currently expanding it frontiers into new business ranging from robotic to fintec companies that was predicted would benefit the adoption of 5G technology . Meanwhile, Master card and Verizon have announced their partnership on Tuesday 13, 2021. The Master card- Verizon partnership which aimed at using 5G smartphones and near field communication (NFC) technological for contactless payment is aimed at enabling business to use Wearable watches and smartphones as payment device .
According to Master card CEO, Michael Meibach, 5G will enable business owners to handle transactions more quickly and focus on what they are delivering to customers. Likewise the CEO of Verizon, Hans Vesberg said the 5G will create a frictionless transaction . Although it is a 2023 project and the action will be limited to North America only.
To me, this is a good news to the crypto trade especially if this could be made to work around the globe instead of being restricted to a particular part of the world, with the 5G contactless payment, crypto transactions would no longer have to be in one currency or another. And the financial policy of a state may have little or no effect in crypto transactions. Take for instance, The Central Bank of Nigeria issued a policy that disallowed the citizens from transacting from the banks to any crypto wallet, with the use of 5G wireless transactions , it is obvious that this may break barriers that restrain the flow of crypto transactions. Well I may be wrong with this analysis, I would like those who understand better to throw more light on this.
Source: Consumers News and Business Channel
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i. harbisonre.com
ii. nairametrics