Visa Introduces the Visa Tokenized Asset Platform

[Bloedcoins]

Its so funny to see these type of things.

Blockchain / crypto was started as a decentralized thing, than gambling happened.

And now it transforms to 'whatever people thought it would be' to 'normal big companies we all know and use are leverging it now in a way to be able to say "But we also do blockchain and crypto" completly destroying the originally idea of it.

But i don't mind. Make the ecosystem even more complicated and complex so that even less people care and use it.

Crypto/Blockchain/NFT was the biggest 'transfer money from a lot of people to a few people' scam for a while now.

[yieldcrv]

It’s permissionless, anyone can deploy anything on those networks

I’m missing the joke about what’s funny or ironic about large companies using it

Can you explain it more? Its still permissionless when the production environment is deployed on the public blockchain so how does that “completely destroy the original idea of it”, which was permissionless

Visa can permissionlessly deploy a permissioned asset backed by off chain collateral that you dont have to interact with at all

a network concept thats used Visa’s capabilities as a goal post for nearly 2 decades now has Visa using it

[turnsout]

I guess this shows you how long it takes a big company to ship software, because there's no way they started this project after 2022.

[WhereIsTheTruth]

I was right since the beginning, the cryptocurrency fad was a test, to both harden and crowdfund the development of a CBDC

To make people perhaps want to "want" it

https://www.edps.europa.eu/press-publications/publications/t...

https://www.federalreserve.gov/central-bank-digital-currency...

What's interesting tho, is Brazil (Lula's administration), let Visa acquire their crypto fintech Pismo last year

https://investor.visa.com/news/news-details/2023/Visa-to-Acq...

[mikhael28]

Ethereum’s smart contracts are inherently insecure. Look at all the money lost through oracle hacks and bridge attacks. If crypto ever becomes viable, mark my words - Ethereum will not be that platform.

[yieldcrv]

I wish we could still do gas rebates, the sub 1 gwei prices on Ethereum right now are the perfect time to load up when gas prices skyrocket again

[kinakomochidayo]

That’s unless they’re building on an Ethereum rollup, similar to what Sony and Coinbase are doing

[3np]

OotL: (Why) don't gas future contracts work no more? Did they nerf the "refund-discount-on-free" hack?

[counterpartyrsk]

Maybe a good time to renew ENS

[sfjailbird]

A Visa run corollary to the ethereum blockchain? Why wouln't a bank just issue its own ERC-20 token?

[yieldcrv]

Its a package of friction reducing things that simply launching a standard or non standard erc20 token doesnt do

[dartos]

Blockchain and b2b banking infrastructure seems like a more sensible use case, since the transaction processing infrastructure can be offloaded to the ethereum network instead of the visa’s infrastructure for some kinds of transactions.

What used to take days may now only take minutes.

Unless this is just another avenue for speculative trading…

[MuffinFlavored]

I always had a dumb question on this.

Say I'm Walmart and I want to adopt blockchain to hold distributors accountable or whatever usecase. Why does that have to be tied to some coin / why does it have to be public?

aka... I'm sure Walmart has (many) instances of things like free-open-source software like Postgres, Redis, etc.

Why not "blockchaind"? Big companies host their own infrastructure (or use it hosted by AWS). Why do we have to buy into this proof of work, proof of stake, public, tied to NFTs and memecoins crypto-currency for blockchain?

[nailer]

> What used to take days may now only take minutes.

A transaction is processed in 2-3 seconds on modern L1 blockchains