Visa is looking for blockchain application developers

A recent job posting on the website of payment processor Visa says that the company's software engineers will be tasked with:

Design and develop secure, efficient, and scalable blockchain networks and small services.

Job requirements seem to have been leaning towards blockchain application development skills. Plans for internal infrastructure upgrades or retail product development based on blockchain technology are still pending. But the content of this announcement shows that Visa is beginning to take the potential of enterprise blockchain technology development seriously.

With the emergence of effective alternative payment services such as Apple Pay and Visa Check, payment applications based on digital currencies are becoming increasingly feasible. As a result, the circulation of Bitcoin has exploded in countries where the local currency has depreciated. With the recent launch of IBM OpenBlockchain and the extensive exploration of blockchain technology development by governments and banks, Visa’s confidence in blockchain technology for the modern financial industry is not so surprising. Due to the stagnation of Apple Pay usage and the lack of global solutions for convenient payment methods, digital currencies have become quite attractive, prompting more and more companies to adopt them recently. Visa and other companies must join this camp to gain a place in the modern Internet financial ecosystem.

Visa’s development in this area is in stark contrast to the attitude towards blockchain R&D within the enterprise a few years ago. Open source solutions for the financial industry were once considered impractical and ineffective, and public opinion was extremely negative. However, Visa is now pursuing blockchain software and technology R&D. This move by Visa clearly shows that they are beginning to recognize that the normalization of decentralized finance has become a possibility. In the near future, financial institutions and technology companies such as Visa must respond to this "possibility" to maintain business operations.