Fuse CEO Mark Smargon says blockchain payments apps will rival Visa, not Ethereum

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Episode 16 of Hashing It Out explores one of the most popular cryptocurrency use cases: payments. Mark Smargon, CEO of Fuse, joins host Elisha Owusu Akyaw to discuss various Web3 payment solutions and how Fuse contributes to businesses’ adoption of cryptocurrency payments. 

Smargon explained that the payment network’s strategy involves looking beyond investments to focus on everyday use cases like payments, which will likely bring more sustainable adoption. Despite the goal, Smargon recounted the difficulty in convincing people and investors that businesses would adopt blockchain payments when starting Fuse in 2019.

Smargon further explained that Fuse is not competing with Ethereum but with Visa and Stripe, and that it’s intended to be the main payment layer for global transactions. On whether the battle of adoption will be won by a few blockchain networks, Smargon mentioned that Fuse has never held a maximalist mindset:

“We really believe that in the future, there is going to be many blockchains. There is not going to be one blockchain that will hold the entire human knowledge. We were never maximalists in that approach.”