Visa incorporated Hyperledger open source for payments
In order to improve and facilitate financial transactions Visa incorporated Hyperledger Fabric functionality
Visa is integrating Hyperledger Fabric’s open source into the blockchain, before launching its own block chain service for corporate payments, which is stipulated for the first quarter of 2019.
Visa’s B2B Connect will allow cross-border transactions between companies and is partnering with IBM to develop the Hyperledger Fabric open source work environment.
The service links user’s information to tokens, including account numbers and various confidential data, with a unique identifier to facilitate transfers, which are faster and less susceptible to fraud. That is, the corporate payments made through B2B Connect are processed from the originating bank directly to the recipient in the beneficiary entity.
Incorporating the Hyperledger Fabric function into Visa’s main assets will help improve and facilitate financial transactions in a network that rebounds with permits to guarantee a cross-border payment experience, with no hassles with maximum security, confidence and transparency.
The tool created by the Linux Foundation, was first developed as a blockchain work environment by IBM and the industry startup, Digital Asset, which formally released their production-ready software, Hyperledger Fabric 1.0, last year.
L.Sáenz
Source: Diario Bitcoin
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