Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019
Visa is readying its blockchain-based digital identity system dubbed Visa B2B Connect for cross-border payments for launch in the first quarter of 2019 that will provide a blockchain-based digital identity solution for financial institutions to securely process cross-border payments. From a technical standpoint the solution will integrate a Hyperledger Fabric framework with Visa’s “core assets,” which the release claims will establish a scalable permissioned network for use in the financial sector. Visa – alongside MasterCard – has this month reportedly moved to group cryptocurrency and Initial Coin Offering (ICO) under a new “High-Risk Securities Merchants” classification, meaning interaction with them will be subject to additional monitoring.
Demand for Blockchain Engineers Has Grown 400% Since End of 2017
The average earnings of a blockchain engineer have soared to between $150-175,000 per year. Since 2017, the demand has soared 400 percent, despite the wider cryptocurrency bear market. CNBC notes the demand is further fueled by the interest of global tech giants such as Facebook, Amazon, IBM and Microsoft, all of whom are currently advertising for specialists from the emerging sector. Desired knowledge encompasses “networking, database design and cryptography computing skills,” and fluency in the Java, JavaScript, C++, Go, Solidity and Python coding languages, CNBC notes, citing “multiple blockchain engineers” as its source. The report was compiled to encompass tech workers across thirteen global cities, based on over “420,000” interview requests alongside an optional demographics survey to include age and race data where possible.
China’s Internet Watchdog Issues Draft Regulations for Blockchain-Based Info Services
China’s top-level internet watchdog, the Cyberspace Administration of China (CAC), published new draft regulations for blockchain-based information service providers. The draft proposes twenty three articles for the regulation of all companies or entities providing blockchain-based information services to the Chinese public. Under the proposed rules, all such entities would be required to register with the CAC within ten days of launching their platforms. The regulations would also require service providers to censor content that is deemed to pose a threat to national security or to “disrupt the social order,” and to allow authorities to inspect user data stored on their systems.