Visa has released its payment network Visa B2B Connect. Well-known partners such as IBM contributed to the distributed-ledger solution tailored to business customers and banks.
Did Ripple beat the last hour?
The credit card company Visa has announced the launch of its Blockchain solution for business customers. “B2B Connect” is intended to accelerate cross-border transfers between banks and their business customers worldwide. Among other things, this should be made possible by the elimination of an intermediary – a central advantage of blockchain and distributed ledger technology. An important role is played by the ability to transfer digital identities via B2B Connect forgery-proof. Visa B2B Connect integrates the Enterprise Solution Hyperledger from the Linux Foundation. With Bottomline Technologies and Fidelity International Services (FIS), Visa has also been able to attract well-connected payment service providers in advance.
Visa sees B2B Connect as the “foundation for a service that has the potential to transform cross-border payments”. That’s exactly what Californian crypto company Ripple Labs is trying to do, with its ripple network targeting inter-bank trading as well.
image by Shutterstock