March 2, 2016 — Visa is looking for Blockchain developers. In a recent job posting on Visa’s website, the payment processor noted that their software engineers are tasked with:
“Designing and developing secure, scalable blockchain network and micro services that are highly scalable, efficient, and extensible.”
Visa Looks to Blockchain for Future Infrastructure
The list of qualifications seems to have a consistent bias towards skills that lend themselves to blockchain application development as well. Whether they plan on an internal infrastructure update or rolling out a retail product based on blockchain technology is up in the air, but the posting displays a novel seriousness on Visa’s part about the potential of enterprise blockchain development.
Bitcoin adoption has been enjoying explosive growth in places where the value of local currency is dropping, and crypto-based payment applications have become increasingly viable as efficient alternatives to services like Apple Pay and Visa Checkout. With the recent release of IBM’s OpenBlockchain and government and banks looking extensively into blockchain development, it comes as no surprise that Visa shares a belief in the blockchain’s place in modern finance. With Apple Pay adoption stagnating and a lack of a universal solution for convenient payment, Cryptocurrency becomes an attractive option, hence recently increased adoption. Visa and other companies may well need to take this route to remain viable in the current Fintech ecosystem.
This development from Visa contrasts directly with attitudes towards blockchain development just a few years ago on the enterprise side. Open source solutions to finance used to be regarded as Obtuse and impractical, and public perception was hardline negative. Now, though, Visa is looking to develop blockchain software and technology. More than anything, this move is an acceptance of the reality that decentralized finance being the norm is becoming a distinct possibility. A possibility financial institutions and technology companies like Visa are going to have to deal with in the near future to continue doing business.
What do you think Visa’s search for blockchain devs will produce? Let us know in the Comments!
Images courtesy of Visa, Apple