The History of Visa is Probably Different Than You Think

visa prepaidVisa credit card association founder Dee Hock is a world-leading expert in payment systems. While an official in 1968 at a local bank in Washington State franchised by Bank of America to issue BankAmericard, Hock became chairman on a committee to create what would become Visa in 1976. Hock is open-minded and outspoken. He has even spoken favorably of the online digital currency Bitcoin.

“Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot,” Hock once said. “[Bitcoin] presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”

In a 1996 Fast Company article, many of Hock’s beliefs were made clear. He developed the concept of a chaordic system, fusing chaos and order, comparable to Prigogine’s dissipative structures theory.

“We are at that very point in time when a 400-year-old age is dying and another is struggling to be born — a shifting of culture, science, society, and institutions enormously greater than the world has ever experienced,” Hock told Fast Company. “Ahead, the possibility of the regeneration of individuality, liberty, community, and

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