VISA Encourages Internet-Free Transactions for CBDCs
Last Updated: 19 December 2020
VISA has been particularly active in the crypto space recently, launching new initiatives to improve the adoption and ease of spending for digital assets. The company’s recent proposal could bring new meaning to cryptocurrencies, especially for future government-issued assets.
Cash’s Convenience with Digital Payment’s Benefits
VISA published a paper examining the possibility of using Central bank Digital Currencies (CBDCs) in entirely offline environments.
Titled “Towards a Two-Tier Hierarchical Infrastructure: An Offline Payment System for Central Bank Digital Currencies,” the paper proposes an offline payment system that will allow governments to enjoy even more seamless use of their assets.