Visa Proposal Would Bring Ethereum Users One Step Closer To Being Their Own Bank

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Visa Proposal Would Bring Ethereum Users One Step Closer To Being Their Own Bank
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Direct-from-wallet Ethereum scheduled transactions would take some financial intermediaries out of the crypto-payment equation.

could pay a bill with crypto at a future date while temporarily away from internet service.

The Visa proposal would essentially merge the two into a single account, turning the smart contract for executing commands into a software wallet for storing cryptocurrency. A process called account abstraction . The idea of turning the smart contract itself into a wallet was proposed in 2015 by Ethereum creator Vitalik Buterin and formalized in 2017 as ethereum improvement proposal 86.

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