Payment technologies giant Visa aims to facilitate the use of digital currencies to be produced by central banks. Universal Payments Channel (UPC) devised a concept.
based on the UPC protocol. UPC centermade by registered users digital money your transfersregistered in the system referral to buyers provides.
off-chain Universal Payments Channel, which operates at the level of digital currency transactions between different blockchains. a common payment channel through which it is processed.
Visa applied for a patent on March 30, 2020, according to Patentscope data, for this system, which resembles today’s Layer 2 solutions and is based on smart contract technology.
According to the information in the prospectus published by Visa, this channel based on different ledgers between two different digital central bank coins (CBDC) “momentarily” can be used to switch. A “small transaction fee” may be charged for the service provided.
Visa, as part of its work for UPC exemplary its first smart contract on September 24 On Ethereum’s Ropsten network created.