At
@Visa, we want to serve as a trusted bridge between the crypto ecosystem and our global network. Excited to share some update today, here is the 🧵
We have been closely tracking the development of the crypto ecosystem and many new technologies and innovation that are evolving very rapidly. The best way to stay engaged and for us to actively contribute to the technical development in the crypto ecosystem is learning by doing
We are deep diving into web3 infrastructure and blockchain protocols, with a focus around areas that are important for payments: security, scalability, interoperability and privacy:
We’ll be sharing external research, engage with clients, partners and developers alike, and focus on real-world use cases for payments with great UX So today we are sharing a technical piece on How to use Account Abstraction (AA) to setup Autopayments on a Self-Custodial Wallet.
AA has many potential use cases, especially on how the user experience on a digital wallet may be substantially enhanced with more flexibility embedded into user account to function more like smart contract.
In learning about AA, we thought about one of the most common type of payments that we enjoy today is recurring auto payments, and we decided to see how this may be built directly on blockchain with a self-custodial wallet.
For a self-custodial wallet, the user controls the private key and so for each tx, this requires the active participation of the user to initiate payment to push onto the blockchain.
With AA, one could setup pull payments with a delegable account instead of push payments on the backend, so that on the front end, an end user can set up auto payments in the same way we do today.
Since
@StarkWareLtd, a L2 network today already supports AA, we build out this autopayment application using StarkNet, with
@argentHQwallet. We deployed our smart contracts and tested the transaction on a private chain.
