Visa proposes Collaboration with Ethereum on Automated Payments -

Visa proposes Collaborating with Ethereum on Automated Payments

Visa proposes Collaboration with Ethereum on Automated Payments

Rudolph Harmon
December 20, 2022
Ethereum
0 Comments

Visa underlined its continuous interest in cryptocurrencies on Monday by issuing a paper outlining how it may one day engage with the Ethereum network on automated payments.

The proposal explores the concept of ‘Account Abstraction,’ a developer proposal for Ethereum. The basic notion of this concept is to make Ethereum user accounts more like smart contracts by enabling users to integrate programable features into their wallets.

The Visa team shows a possible use in the paper by simulating the process you use now to set up a recurring card payment.

Visa is exploring the many use cases of blockchain technology – the ones that exist today and those yet to come. Check out our first deep dive on what it would take to set up a scheduled auto payment on blockchain: https://t.co/KIbh3I4Iw1
— VisaNews (@VisaNews) December 19, 2022

To read full paper: Click here

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