Visa said self-custodial wallets could use a unique “account abstraction” method to set up automatic recurring payments on StarkNet as existing smart contracts do not currently support such steps, according to coindesk.com.
Payments processor Visa recently proposed a system known as “account abstraction” that uses smart contracts can be used to enable automated programmable payments on Ethereum, per a crypto thought leadership post.
This solution involves the creation of a smart contract that acts as an intermediary between a user account and a contract account, allowing for the creation of a self-custodial wallet that can make automatic recurring payments without requiring the active participation of the user.
Such a move would allow recurring payments to be conducted entirely over blockchain networks, which currently are devoid of such capability, Visa said.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
