Visa moves to blockchain, gets rid of passwords - Hitecher
Visa moves to blockchain, gets rid of passwords

Visa moves to blockchain, gets rid of passwords

by Hitecher

Digital asset security startup Anchorage has recently attracted over $40 million in funding. Investors included Visa, Andreessen Horowitz and other companies. 

The startup is focused on getting rid of password systems. According to Anchorage experts, old security methods are unreliable, so they are proposing a two-factor security system:

  •       The first step involves getting clients to approve transactions for at least two thirds of the employees of the sender company. 
  •       The second step is verification with Anchorage using both AI and human validation. 

Today, on July 11, Anchorage has raised $40 million worth of investments. Sponsors include Visa, Andreessen Horowitz, PayPal, Blockchain Capital and other companies. All of them (including Anchorage) are members of the Libra blockchain project from Facebook. 

Progress in accounting, audit and calculation of taxes will lead to the introduction of even more cryptocurrencies from institutional investors to the market, which will also strengthen the position of blockchain.

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