Connect with us

News

Visa launches B2B Connect blockchain platform for cross-border operations

Published

on

The payment processor Visa launches a blockchain system for cross-border business payments called B2B Connect. The network will provide a unique system for managing confidential information and payments for business.

It seems that Visa, which previously closely followed blockchain space, finally plunged into this industry. The global payment giant introduced its new product, B2B Connect, a platform with distributed registries that should provide “digital identification for customers”, as well as a “simple, fast and secure way” of processing cross-border payments.

The Visa company says that the blockchain technology will help it eliminate cases of fraud that could occur when using checks, automated clearing houses or bank transfers.

It should be noted that for Visa, which mainly processes traditional payments, this is the first such experience in the field of business payments. B2B Connect plans to launch in commercial operation next year.

Preparing to launch B2B Connect from Visa also involves many different partnerships for Visa. For example, the company Bottom-line Technologies, which works with 1,200 financial institutions around the world, must provide the necessary technological infrastructure.

Visa also works closely with the IBM Blockchain Service and the Hyperledger Fabric of the Linux Foundation to launch B2B Connect.

IBM Blockchain Services general manager Jason Kelly told reporters that B2B Connect is becoming one of the most prominent examples of how blockchain transforms the payment industry.

B2B Connect – not just for corporations

Currently, it is assumed that B2B Connect will be used only by large enterprises and financial institutions, but after the commercial launch, Visa plans to significantly expand the capabilities of its service.

By and large, B2B Connect intends to eliminate any intermediaries in international money transfers, the costs of which are prohibitive. It seems that B2B Connect will significantly reduce commissions.

This Visa approach can be a shock for projects like Ripple's xRapid, trying to create similar payment networks. It is also possible that there will be similar announcements from other companies introducing new technology. However, Visa’s chances of success are very high, given that the company is a heavyweight in the payments business.

The B2B Connect ad also says that Visa has been paying close attention to blockchain technology all this time.

Publication date 12/06/2019
Share this material on social networks and leave your opinion in the comments below.


News

Bitcoin rate will grow from $ 16,000 to $ 62,000 by the end of 2019, analysts' forecasts

Published

on

Strengthening the position of Bitcoin creates the conditions for the emergence of more aggressive forecasts regarding the future dynamics of the movement of the coin.

Back in January, one of the analysts who wished to remain anonymous, successfully predicted the trajectory of Bitcoin from April to July. He said that BTC would first overcome the $ 5,300 mark, and by the middle of summer it would trade at $ 9,200 and was right.

In addition, the analyst predicted a cryptocurrency breakthrough to $ 16,000 by October 2019 and announced the continuation of a positive trend throughout the whole next year.

However, in social networks from traders sound more aggressive statements about the prospects of the coin. One of the optimists, a trader under the nickname Galaxy, posted a tweet post in which he announced a bitcoin jerk to $ 62,000 by the end of October.

The forecast is initially perceived as fiction, but if you read the post of the analyst, then you can believe in it.

Galaxy said that in 2017 we observed a similar trend, which resulted in a 570% rise in Bitcoin over 147 days. If we take as a basis the schedule of the course of the two-year-old asset and project it on the current situation, then we can expect an increase in the price of Bitcoin to $ 62,000 by the end of October.

Many Twitter users find the trader’s forecast to be more or less realistic, but they doubt the possibility of such an aggressive jerk of the coin. But there are those who say that such forecasts are not based on anything, and publishing them on the network only aims to increase the number of subscribers.

Publication date 19/06/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

Tom Lee: over the next months, the BTC rate will increase by 4 times

Published

on

Bitcoin bull Tom Lee believes that the flagship cryptocurrency is close to the FOMO rally, with the result that the value of the coin can rise to $ 40,000 over the next few months.

Tom Lee, head of Fundstrat Global Advisors, noted that the Bitcoin cryptocurrency rate is close to $ 10,000, which could serve as a trigger for the FOMO. Lee refers to the events that occurred at the end of 2017, when the price of BTC, approaching the level of $ 10,000, increased in two days to $ 20,000.

On Monday, the BTC rate overcame the $ 9,000 mark, and after the Libra crypto-project from Facebook was introduced, the cost rose to $ 9,200. It is assumed that the Libra project is proof for society that cryptocurrencies are becoming increasingly popular, large companies, including financial ones, are particularly interested in them. Lee also noted that on the same day, the value of GRAYSCALE BITCOIN TRUST (GBTC) shares rose by 11%, reaching $ 12, which was not observed since July 2018.

Continue Reading

News

The launch date of the new Ethereum 2.0 blockchain algorithm has become known – January 3, 2020

Published

on

Developer Justin Drake (Justin Drake), according to Trustnodes , called the date of transition of the Ethereum network to the second version of the protocol and the introduction of the consensus mechanism Proof of Stake (PoS). According to him, Ethereum 2.0 will become a reality in seven months – January 3, 2020, exactly 11 years after the extraction of the genesis-block of Bitcoin .

Drake also said that the developers of Ethereum for less than two weeks – until June 30 – should finalize and approve the specifications of the zero phase. Before generating the genesis block, they will have to launch a deposit contract for the accrual of funds to validators – and present it at the Devcon conference in Japan in October.

Thus, according to Drake, over the next three months, developers should collect at least 2 million ETH, and in seven months, bring the product to a “production stage”, that is, a test network that has been working for quite a long time without significant flaws and has passed a security audit, for at least two customers.

Recall that the founder of Messari, Ryan Selkis (Ryan Selkis), expects that the transition of Ethereum to the second version of the protocol will take place no earlier than 2021. In early May, Prestmatic Labs co-founder Preston Van Loon announced the public launch of a test network for Ethereum 2.0 – Sapphire – created on the basis of the Casper protocol with PoS consensus algorithm and support for stacking.

Publication date 18.06.2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading
Advertisement

Name Price24H (%)
Bitcoin (BTC)
$9,178.00
-0.23%
Ethereum (ETH)
$268.89
-0.19%
XRP (XRP)
$0.435702
-1.04%
Bitcoin Cash (BCH)
$417.04
-0.66%
EOS (EOS)
$6.90
-1.02%
Stellar (XLM)
$0.126062
-1.27%
Litecoin (LTC)
$137.66
4.83%
Cardano (ADA)
$0.091507
1.04%
Tether (USDT)
$1.00
0.01%
Monero (XMR)
$100.40
2.68%
Advertisement

Trending

Copyright © 2018 blockchainjournal.news