In recent news, VISA has announced they are seeking a blockchain engineer. So if you’ve got the skill set, go ahead and respond to the job.
Let's look at the job posting, as there is a lot to unpack.
Visa's Commercial Payments organization is responsible for managing Visa's B2B Payment innovation agenda and initiatives and the management of strategic partnerships with critical financial institutions. This group is responsible for defining and building the Non-Card based payment innovation and product for Visa Inc. Globally. The 5 priority verticals the team is focusing on are
1. Blockchain based Cross border payment platform
2. Near time Settlement
3. Enterprise ID stamping to create digital identity for corporates
4. Hyperledger chain-code development in Go-lang
5. Analytics and Data visulization
We are working on Blockchain technology and want to add a highly motivated Engineer to our team in
Foster City,CA. Work on emerging technologies, partnering with Product on implementation strategy.Work with technology teams to understand the business demand and ensure design and build of solutions creates or leverages cross-asset concepts and frameworks.
We're seeking a strong developer experienced with Ethereum and blockchain architecture to be a part of
team tasked with building distributed application. Our ideal candidate has built and released distributed
applications, has worked with the Ripple, R3, Ethereum and/or Bitcoin blockchain, and has experience with Solidity
Multiple Positions are available in Austin, TX and Foster City, CA locations
Wow. Let's go through each point.
For #1. VISA is hoping to create a payment system that utilizes blockchain-tech and is cross border. So the obvious connection XRP is right there. But this does NOT mean that they are going to XRP. If anything, they could be making a competitor for XRP, one of the WORST performing crypto assets since the bullrun of 2017.
For #2, this is also echoing XRP and, really, any other crypto out there. Near-time-settlement just means 'super fast'. It's a meme at this point.
For #3, there is also the idea of a digital ID for corporate entities. This is what NEO and ONT have been attempting to construct for their respective ecosystems. Digital ID was a meme in 2018 for coins, a la THE KEY.
For #4. Chaincode is a smartcontract used for reading ledgers, updating ledgers and basically allows the users of a blockchain to run transactions.
For #5, speaks for itself.
As for the rest of the name drops, ETH, Bitcoin, XRP, don't let this fool you. VISA isn't going to use any of these existing coins. What they WILL use is the tech behind them, for their own thing.
What I mean is, VISA is making its own blockchain tech product, likely aimed at corporate entities, for the purposes of fast, borderless, transactions. Is this going to be a new crypto that you can buy and make money off of? That is highly unlikely. VISA doesn't need to make a pump-and-dump shitcoin a la the Bullrun of 2017. They are trying to make a new product that can be used in the 21st century, likely for transferring wealth between corporate entities, in a way that a faster and overall superior to the existing form of slow and fee-bloated transfers.
Don't believe the hype. VISA isn't making a new bitcoin. They're just trying to update their tech. Likely, it will involve using their own CBDC, or, central bank digital currency.