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Visa: Stablecoins to Become Next Generation Digital Payment Infrastructure Requires Building Technology Layer, Reserve Layer, and Interface Layer
Summary: Visa's Chief Product and Strategy Officer, Jack Forestell, wrote on the official website about the potential of the GENIUS Act, which has been passed by the US Senate, signaling the start of the era of programmable digital currencies with stablecoins. However, there is still much work to be done. For stablecoins to become part of ...
Visa's Chief Product and Strategy Officer, Jack Forestell, wrote on the official website about the potential of the GENIUS Act, which has been passed by the US Senate, signaling the start of the era of programmable digital currencies with stablecoins. However, there is still much work to be done. For stablecoins to become part of the world's next generation digital payment infrastructure, they must have three layers: 1. Technology layer: capable of securely and reliably executing transactions at high speed and scale with zero tolerance for failures, leaks, or violations; 2. Reserve layer: trust must be established in the value and stability of the exchange medium, stablecoins need to be regulated and backed by reserves; 3. Interface layer: must provide users with a simple and convenient mechanism to convert value into their chosen fiat currency.
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Link: Visa: Stablecoins to Become Next Generation Digital Payment Infrastructure Requires Building Technology Layer, Reserve Layer, and Interface Layer [Copy]
