Implications of Visa Patent for Blockchain Based Digital Currency

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Implications of Visa Patent for Blockchain Based Digital Currency
mohamed_hassan / Pixabay

It was recently reported that Visa, a former member of the Libra Association, has filed a patent application to create digital currency on a centralized computer using blockchain technology. This patent is for a digital dollar as well as other central bank digital currencies (CBDCs) across the globe.  The application to the U.S. Patent and Trademark Office (USPTO) describes this as a ‘Digital Fiat Currency.’

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