Visa Files Patent Application for Digital Currency

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Visa Files Patent Application for Digital Currency

Visa has filed an application to create digital currency on a blockchain with the U.S. Patent and Trademark Office.

According to the application published May 14 — but filed way back in November 2018 —  inventors Simon J. Hurry and Alexander Pierre with the Visa International Service Association in San Francisco have sought a patent for a digital currency recorded on a blockchain and controlled by a central entity computer.

It cites Ethereum as a possible network. The application details two records, one of which would indicate “the digital currency for an amount associated with the denomination has been created for a public key associated with a digital wallet”. The other record notes the “removal of the physical currency from circulation in a fiat currency system.”


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