Global credit card giant Visa has rolled out the first, pilot phase of its blockchain-based business-to-business payments service, B2B Connect.
First announced last year, Visa plans to use the platform to ease cross-border payments by facilitating direct payments between institutions, cutting out the middleman the industry currently relies on. The platform developed with the assistance of blockchain startup Chain is also designed to ensure secure, yet transparent payments between enterprises.
That is a good step coming from them. I am sure that he blockchain technology that is brought by satoshi to the world will be widely used not just on visa credit cards but also on many fields as well. With developments, I am sure blockchain tech would lead to a foundation of new convenient way to ensure transparency of government and related organization. Although that is the case, I think if this system became a reality and if there would be crypto version of fiat currency, bitcoin might not go mainstream but instead be used like precious metals.