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.
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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.
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