Visa had a huge network outage that affected users in Europe and the UK.
The downtime was caused by a hardware failure and left people all over the country frozen in time. People couldn’t buy stuff, get gas, or even call for a taxi. This only further shows off the strengths of cryptocurrency and the blockchain technology, which have decentralized networks which are made to stay online without dependence on any single “network” or “server.” Bitcoin especially has been online since it was created in 2009.
Credit companies have been looking for ways to harness blockchain tech into their networks to power their own payments. Visa itself stated that ti’s exploring blockchain tech for international B2B payments.
“The issue was the result of a hardware failure within one of our European systems and is not associated with any unauthorised access or cyberattack.
Our goal is to ensure all Visa payments work reliably 24 hours a day, 365 days a year. We fell well short of this goal today and we apologize to all of our partners and Visa account holders for any inconvenience this may have caused.”
Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.
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