Express
Visa Proposes Offline Payment System In New Research Paper
Summary: Visa has proposed an offline payment system for central bank digital currencies (CBDCs) in a recent research paper. The paper acknowledges the benefits of CBDCs but says they should be accessible without an internet connection. Visa proposed a system that would use open source technology and public key infrastructure so transaction messages could be signed without the need ...
Visa has proposed an offline payment system for central bank digital currencies (CBDCs) in a recent research paper.
The paper acknowledges the benefits of CBDCs but says they should be accessible without an internet connection. Visa proposed a system that would use open source technology and public key infrastructure so transaction messages could be signed without the need to be connected to the internet.
One of the key arguments in favor of CBDCs is that central banks want to help connect unbanked individuals to financial products, however lack of broadband access makes this more difficult. A system that does not require internet would be the most accessible.
By Emily Mason
Tags: CBDCs,Visa
Link: Visa Proposes Offline Payment System In New Research Paper [Copy]
