Visa to Study Blockchain, Bitcoin Coming in from the Cold?
Aug. 13, 2015
Visa is exploring ways to leverage the technology underlying Bitcoin and will conduct some of the research at a new facility in Bengaluru, India, according to published reports. Rajat Taneja, Visa’s executive vice president of technology, told an Indian newspaper the company had already started looking at how it can use blockchain technology—the public ledger of all bitcoin transactions that enables the cryptocurrency to operate without a central authority—to improve digital payments processes. Along with the blockchain, Visa will study ways to make its existing e- and m-commerce initiatives better.
“For now, the focus of this technology innovation center will be on Visa Checkout and mVisa, but for certain, India will soon have teams that will jointly work with our two research labs in the U.S. and Singapore in studying the many aspects of blockchain,” Taneja said.