3 years later, Visa?s blockchain-powered payment network finally goes live

TNW
TNW.Finally!Visa
Visa B2B Connect
SVP
Visa Business Solutions.“By
Phalen
Reuters
Chain
Hyperledger Fabric
the Linux Foundation’s
IBM
FIS
Bottomline
University of Louisville

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Kevin Phalen
Hyperledger

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SOURCE: https://thenextweb.com/hardfork/2019/06/12/3-years-later-visas-blockchain-powered-payment-network-finally-goes-live/

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Summary

With Visa B2B Connect, we are making payments quicker and simpler, while enhancing transparency and consistency of data,” he added.It’s worth noting, however, that the network is not actually a blockchain, although some elements of the technology have been used because they allow network participants to transfer more information on a payment than existing alternatives, Phalen told Reuters.Initially Visa worked alongside startup Chain to create the new platform but eventually decided to use elements of Hyperledger Fabric, the Linux Foundation’s open source distributed ledger.IBM, FIS, and Bottomline helped Visa build the network.

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3 years later, Visa?s blockchain-powered payment network finally goes live

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