Blockchain technology can radically improve banking, supply-chain and other transaction networks, giving them new opportunities for innovation and growth while reducing cost and risk. But Blockchain is far from being ready to handle industrial use cases. Watch this panel discussion to hear what thou
According to Coinbase, the Silicon Valley startup that operates digital bitcoin wallets for over 2.8 million people across the globe, about 20 percent of the transactions on its network involve payments or other tasks where bitcoin is used as a currency. The other 80 percent of those transactions ar
Visa and DocuSign unveiled a new proof-of-concept this week that leverages the bitcoin blockchain for recordkeeping.
The project, outlined in a 26th October blog post and debuted at Money20/20 in Las Vegas, focuses on digitizing the process of leasing a car. Bitcoin transactions are used to create a digital fingerprint for each vehicle, with new transactions published throughout the leasing process.
“From the driver’s seat, the customer then chooses the lease options for the car – low, mid or high mileage, for example and DocuSigns the leasing contract right there and then. This is all in turn updated on the blockchain,” the post explains.
“They then choose their insurance options in the familiar way – evaluating by coverage, deductible and other factors,” it continues. “They would again DocuSign the agreements, and the blockchain would again be updated.”
Visa is involved through its technology innovation arm, which has been working with bitcoin and the blockchain for months. The company is also an investor in DocuSign.
Other elements of the proof-of-concept involve Visa’s credit cart network and some of DocuSign’s document management technology in a bid to connect the leased car and further digitize the leasing process. DocuSign released a YouTube video that shows a step-by-step demonstration, including instances in which information is published via the bitcoin blockchain.
View the demo video: https://youtu.be/2rLNbd6MQXg
Full article: http://www.coindesk.com/visa-docusign-car-lease-proof-of-concept-bitcoin/