FOLLOW US: @theinsaneapp
Visa has recently proposed an "account abstraction," which uses smart contracts to enable automatic programmable payments on Ethereum.
Twitter | Insatagram | Facebook
FOLLOW US: @theinsaneapp
This solution involves creating a smart contract as an intermediary between user and contract accounts.
Twitter | Insatagram | Facebook
FOLLOW US: @theinsaneapp
It creates a self-custodial pocket that can make automatic, recurring payments without the need for active participation.
Twitter | Insatagram | Facebook
FOLLOW US: @theinsaneapp
Visa stated that such a move would enable recurring payments to be made entirely over blockchain networks.
Twitter | Insatagram | Facebook
FOLLOW US: @theinsaneapp
These networks are currently devoid of this capability.
Twitter | Insatagram | Facebook
FOLLOW US: @theinsaneapp
The company suggested that the system be deployed on StarkNet, an Ethereum layer of two networks.
Twitter | Insatagram | Facebook
There are currently two types of Ethereum accounts: Contract Accounts (CA) and Externally Owned Accounts.