Visa will test the Blockchain
London payment giant Visa will test the blockchain to improve interbank payments.
In fact, Visa Europe Collab announced today that its innovation lab started to test the distributed ledger with BTL Group.
Together the companies will try to explore how the blockchain and smart contracts can be useful for transactions among banks.
In the press release, co-founder of Visa Europe Collab, Hendrik Kleinsmiede, explained that the two partners wants European banks to join their program to use the technology for live payments.
“We’ll work closely together on the development and implementation of the PoC, ensuring that all participants come away with new knowledge and insight into the role that the blockchain could play in interbank settlements in the future.”
According to an article published on the
Financial Times, Visa and BTL will try to finish the project within 100 days.
This is not the first project that sees Visa Europe Collab using the blockchain.
In July, Visa revealed a micropayments trial and a project to extend the reach of traditional payments.
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