Visa steps into the world of Blockchain

Visa steps into the world of Blockchain

Visa; It was one of the largest payment institutions known around the world, but for a long time, Bitcoin had a very negative attitude towards crypto currencies. Visa CEO; it was openly harshly criticizing the Bitcoin system, causing even confusion for investors. As such, a recent statement caused many people to be surprised because Visa; It used the blockchain system for cross-border operations.

Visa's New Payment Network

Visa; developed a payment system for itself. Designed for payments and remote transactions, this payment system is currently traded on the market. The name of the system; Visa has been designated as B2B Connect. Purpose of the system; to provide financial institutions and individuals with an international payment method and to ensure that transactions are carried out quickly. Thanks to this system, it is possible to say that a transfer corridor has been created for up to 30 global currencies and the system is still being developed. After a while, the number of money in the system is expected to be 90.

Visa B2B Connet System

Visa eliminates the intermediaries with the newly developed system. This is exactly the case with the blockchain system because there are no intermediaries in this system. The Blockha; While this is important both for eliminating the extra costs and for increasing the speed, it may be an indication that Visa is starting to defeat the system against which it reacts.