Visa Working on Ethereum Account Abstraction, Interoperability, Scalability and Privacy

Visa is exploring account abstraction (AA) technology on the Ethereum mainnet according to a recent interview. Catherine Gu, the head of CBDC and Protocols at Visa, said the ultimate question was finding a use case to achieve mainstream adoption.

The payments giant recently released a technical paper that showcased how digital transactions could be transformed using account abstraction (AA).

The company is experimenting with 4337 paymaster contracts as it explores the scope of AA, which has the potential to pay gas fees for transactions with any generic ERC-20 token. Gu said the company aims to become subject matter experts on blockchain technology to understand privacy and design implications.

Aside from looking into account abstraction, Gu and her team are also exploring themes of interoperability, scalability and privacy.