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George Ma
in
Crypto
May 16 14:35

Visa has filed a patent request for creating a digital currency based on a blockchain

The currency will be controlled by the "central computer".
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The document was sent to the US Patent and Trademark Office in November, but it was not published until May 14, 2020.

The new asset, it is said, will provide an opportunity to combine the advantages of the cryptocurrency and fiat money issued by Central Banks.
The document notes that digital money has advantages over fiat payment systems. These include higher speed of transactions as well as user trust.
Earlier at a JP Morgan TMC virtual conference, Visa CEO Alfred Kelly said he sees digital currencies backed by fiat as a potential technology for new payments.
Earlier, China announced the start of testing the new digital currency. In the first phase, the new financial instrument will be tested in four cities. Several credit institutions have been attracted for tests, and after the first stage of currency testing will be used in other cities.
The appearance of the national cryptocurrency, according to Chinese authorities, will allow the country to create its own currency system. The new currency will allow the country to overcome its dependence from U.S. dollar.