American FinServ multinational corporation Visa recently released a proposal outlining how Ethereum users could set up automatic payments directly from their own, self-custodial wallets. It will be eliminating banks and other centralized entities from the equation.
A team of researchers and engineers across Visa is working to evaluate the foundations of various blockchains. The focus areas include security, scalability, interoperability, privacy, and use cases of different protocols.
Visa’s Head of Central Bank Digital Currencies and Protocols, Catherine Gu, emphasized that the company is focused on growing their “core competencies in Web3 infrastructure layers and blockchain protocols driving crypto development.” Gu added,
“If one of the major use cases of blockchain is for payments, then the basic requirement is that the blockchain has to function just as good as today, if not better.”
