Why Visa Europe is Testing Remittances on the Bitcoin Blockchain
Visa Europe became the latest enterprise financial institution to announce a blockchain proof-of-concept this month, when it revealed it was working to leverage the emerging technology for remittances. But while many of its peers are seeking to pursue such projects on closed, proprietary ledgers, Visa Europe Collab innovation partner Jon Downing has clarified that the test project is being conducted on the live bitcoin blockchain. In interview, Downing and Edan Yago, CEO of blockchain services firm and project partner Epiphyte, discussed the initiative in new detail. Payments in the....
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Visa Europe Collab, the global hub for Visa Europe International, and Epiphyte, provider of a block-chain-based software as a solution (SaaS) for immediate financial transactions, are combining their expertise to develop a more efficient global remittance service they told CCN in an email. The companies are working on a proof-of-concept to use bitcoin and block chain capabilities to make remittance services more efficient and easier to use. Epiphyte specializes in distributed ledger solutions for the mainstream financial market. The proof of concept is scheduled for completion in the next....
Visa Europe has announced it is working on a proof-of-concept for a blockchain-based remittance service. Created through Visa Europe Collab, the trade organization's innovation initiative, the proof-of-concept is being built in collaboration with Epiphyte, an enterprise blockchain services firm that recently graduated from San Mateo incubator Boost VC. Though details on the proof-of-concept were limited, the companies said they are working in a "controlled test environment" that is seeking to simulate real-world remittance transactions. A press release by Visa Europe Collab indicated the....
Transitioning from traditional payments to their mobile counterparts is quite a challenge, even for Visa Europe. Blockchain technology is of particular interest to this institution, similar to how a lot of banks are keen on distributed ledgers as well. Bitcoin enthusiasts are thoroughly convinced digital payments are the way forward. Although card payments are becoming more common every month, there are high fraud rates associated with this form of transferring value. Visa Europe head of Digitization and Innovation Shahar Fridman feels confident digital payment should be the focus, even....
Sending money from Europe to the rest of the world remains a very costly affair. Money transfers and blockchain technology are two peas in a pod these days. Tempo Money Transfer, a company, focusing on remittances from Europe, integrated with Stellar. By using this technology, users can send remittances through the Stellar e-wallet. An excellent example of how blockchain technology can benefit all parties in a financial transaction. As a result of the partnership, Tempo Money Transfer clients can send global remittances from anywhere in Europe. They can do so through the Stellar e-wallet,....
Visa Europe's Collab, the company’s digital innovation initiative, has begun searching for bitcoin startups within the digital payments scene with the hopes of creating “an Apple App Store” of Bitcoin startups. Bitcoin companies qualified for its program called "a religion of a 100-day sprint proof of concept" will become a part of Visa’s proof of concept stage, where they will be given opportunities to test their platforms and technologies at Visa Europe. IBTimes interviewed Steve Perry, chief digital officer and the founder and co-creator of Visa Europe Collab about Visa’s general focus....