#Giveaway  on last slide

Visa Proposes Ethereum Auto-payment Scheme

Scribbled Arrow

TRENDING GLOBALLY

FOLLOW US:  @theinsaneapp

Visa proposed a blockchain account design allowing Ethereum users to arrange auto-payments using a self-custodial vault.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

In a blog post posted Monday, December 19, the payments giant explained its approach. 

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

This post summarized an August research paper.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Visa proposes using Account Abstraction, an Ethereum feature currently being considered by core developers, to implement automatic payments.

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

According to the company, this will allow users to set up recurring bill payments. 

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

This is not possible on Ethereum at the basic level, as smart contracts can't request transactions. 

Twitter | Insatagram | Facebook

FOLLOW US:  @theinsaneapp

Instead, transactions must be initiated and sent manually by user accounts.

Twitter | Insatagram | Facebook

Visa stated that auto-payments could be made using bank accounts or custodial crypto wallets. 

#GIVEAWAY BY INSANE

Do you know that we give away around $500 USd in cash prizes every week?

Let’s grow together!