Credit Card Giant Visa Hints at Digital Asset Service Plans


Oneof the world’s biggest charge card providers might be seeking to blockchain as a method to assist in the transfer of cryptographic possessions, public records reveal.

A patent applicationreleased recently exposes that 4 workers of Visa’s worldwide item and business-to-business platform departments have actually sent a filing entitled “Methods and System for Using Digital Signatures to Create Trusted Digital Asset Services.”

Theapplication itself does not look into lots of specifics, nevertheless. Theproposed creation is referred to as applying to both public and private blockchains, and hints broadly at the system being utilized to send out digitized possessions backward and forward.

Asthe application discusses:

“Digital assets associated with a value transfer can, in some embodiments, be digitally signed by a sending entity and/or an administrative entity. The sender’s signature can indicate that the digital asset was legitimately sent by the indicated sender, and the administrator’s signature can indicate that the digital asset was approved and/or recorded by the administrator. In some embodiments, a digital signature can indicate that the digital asset has been transferred, and that the value cannot be taken back.”

WhetherVisa is preparing to introduce a digital asset service based upon the innovation in the application stays to be seen.

Thepayments card giant has actually currently transferred to construct blockchain-based services on the payments front, and is presently dealing with innovation start-up Chain to build a business-to-business platform set to introduce this year.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Chain.

Visa cardimage through WDnet Creation/Shutterstock

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