If one talks about the payment sector, Visa is a name that obviously comes up. The company has defined the way we transact and pay on a regular basis. With a 53 percent share of all credit card transactions, the payments giant is probably the biggest in the business.
However, innovation never stops and the crypto space has been identified as the next-generation tech. Visa has also been quick enough to jump on the blockchain and crypto train. Now, it looks like the company is expanding its team of blockchain experts.
The company has listed a new job posting which states that the company is working on blockchain-based projects.
“We are working on Blockchain technology and want to add a highly motivated Engineer to our team in Foster City, CA. Work on emerging technologies, partnering with Product on implementation strategy. Work with technology teams to understand the business demand and ensure design and build of solutions creates or leverages cross-asset concepts and frameworks.”
The payments company has been hiring blockchain engineers for years, but this time the job description states that it is specifically hiring those with expertise in Ethereum and its blockchain architecture. A part of the description reads:
“We’re seeking a strong developer experienced with Ethereum and blockchain architecture to be a part of team tasked with building distributed application. Our ideal candidate has built and released distributed applications, has worked with the Ripple, R3, Ethereum and/or Bitcoin blockchain, and has experience with Solidity”
The responsibility of the engineer would be to lead the company’s “several unique Blockchain initiatives,” writing code, and keeping track of new technologies in the space.
Visa has been working on multiple blockchains and cryptocurrency-based projects. Last year, the payments giant launched its blockchain-powered business to business payments network that will serve businesses seeking to make payments to 30 markets at launch and 90 more corridors added throughout the rest of the year.
The service was designed to help the company’s corporate clients find a replacement for the slow banking network, with the near-instant payments network powered by distributed ledger technology (DLT).
More recently, Visa International filed a patent for a cryptocurrency-powered system that is designed to replace cash. The patent described the system as a fiat-linked cryptocurrency system using “a private permissioned distributed ledger platform.”
Furthermore, there has been a bigger push towards tokenization at Visa as it acquired the token services and ticketing businesses, formerly Bell ID and Ecebs LTD, from Rambus (RMBS), a premier silicon IP and chip provider.
It’s a great time for the blockchain and crypto industry as major companies are now leveraging this emerging technology to enhance the existing systems. As more businesses step up into this space, progress is inevitable.