Visa Europe’s innovation lab was demonstrating its proof-of-concept remittance app, which sends funds over the bitcoin blockchain, at the UnBound London conference on 30th November.
The lab built the prototype with startup Epiphyte as part of a 100-day development project. Visa Europe Collab’s Jon Downing and Epiphyte’s Edan Yago discussed the reasons for embarking on the project, and for using the bitcoin blockchain instead of a closed network, in this CoinDesk exclusive.
At the conference, held under the Victorian railway arches of London Bridge, Collab’s Nigel Clarke, an innovation partner there, gave us a hands-on demo of the money-transfer prototype with an exclusive screen-by-screen walkthrough.
The “remittance journey” starts on the send screen. This is a responsive web page that works on a desktop or mobile browser. The idea is for a user to link a Visa card to the remittance app. Once linked, the app will show an available balance and the corresponding card details.
The prototype comes with BitPesa built in as a third-party service that will enable the recipient to obtain their funds in a fiat currency of their choice. The user therefore has to sign up for a BitPesa or other third-party service account