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Jonathan Vaux at Wired Money: Visa Deeply Interested in Integrating Blockchain Technology


American credit-card company Visa has once again showed its interests for bitcoin at WIRED Money held in London.

Jonathan Vaux, executive director of new digital payments and strategy at Visa Europe, who attended the session on behalf of Visa announced: “The one thing I often get asked about is bitcoin. I do see … a separation between the currency and the technology that sits under it. From the point of view of currency, I think that’s interesting. As Visa, that’s what we do – we manage currencies.”

Vaux said Visa is deeply interested in the blockchain technology which stands as a backbone of bitcoin as a currency, and suggested that Visa could implement the technology to ease the settlement and transfer of payments.

“Ultimately, what we’re looking for is the technology and the component parts that we can bring into our platform and into our marketplace, that delivers a richer proposition,” Vaux said.

Like many other financial institutions and establishments, Visa is interested in identification, device fraud and digital receipting – which may be referred to as smart contracts on the blockchain and cloud-based technology to organize and settle online payments. Vaux explained that Visa will actively look into these areas for its customers and to enhance their operations.

Vaux added that Visa is interested in facilitating bitcoin as a currency.

“Like any other currency, although this might not be the best week to discuss it, at Visa we are very keen to facilitate that translation of currencies on a global basis,” he said.

Image via WIRED Money