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.
From business to business payment or transactions we would have individual to individuals transactions in future! Visa were among the company from beginning that buy the idea of p2p transactions before back out, but I am happy it has made this great advancements. Blockchain technology is going maintream and the defraud banking system we have now that is the third-party systems of transactions will be history.