Will Visa Adopt Blockchain Technology?
It appears that Visa, the world's largest credit and debit card company is looking to hire Blockchain engineers. In a post on their careers segment, the payment giant is actively hire blockchain specialists in both Texas and California.
What Visa Wants to Build
There are 5 different priorities that the team is focusing on. This includes blockchain-based cross-border payments, Enterprise ID stamping to create digital identities, and Hyperledger chain-code development.
Essentially visa is looking for a developer with experience working for Ripple, Ethereum, or Bitcoin's blockchain. They are also prioritizing developers with Solidity experience. The total experience required by Visa for the role is a whopping 8+ years in programming and blockchain development.
The candidate, once selected, will become part of Visa's Global Commercial Payments area. The team itself will help develop a new payment rail which will make use of blockchain technology and a distributed ledger.
Visa Versus Ripple?
The global payment giant Visa seemingly has plans somewhat similar to Ripple's RippleNet and XRP to an extent. Both are planning a cross-border blockchain-based payment solution. Like XRP, it is extremely doubtful that whatever Visa is developing will be mineable. It will likely be a private consortium blockchain run by Visa servers and will not be open to the public.
This seems to put Visa in direct competition with Ripple.
Fortunately for Ripple and XRP fans, Ripple has the first mover advantage and already has a working system. Regardless, it was a matter of time until corporations such as Visa took blockchain technology seriously.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado