Don’t Care for Bitcoin, Only Blockchain, Says MasterCard President for Operations & Technology
Rob Reeg, president for operations and technology at multinational payments giant Mastercard has revealed that while the company is invested in blockchain technology, he doesn’t care for Bitcoin. The global payments landscape is primarily dominated by Visa and MasterCard, in that order. In a time where a disruptive new innovation like Bitcoin has already scaled and survived beyond many observers’ expectations, it is perhaps prudent that the giants take notice. Visa, for instance, summed up 2015 in noting that bitcoin and blockchain became “more real than ever before”, as the year that saw....
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Mastercard president Rob Reeg admits he doesn’t particularly care for bitcoin, but thinks the blockchain holds promise. In a recent interview with the Business Standard, Reeg opened up about some of Mastercard’s ongoing projects surrounding blockchain technology, and how they plan to implement further security for card holders. Presently, the credit conglomerate is working on two separate blockchain pilot projects; one combines aspect of both public and private ledgers, while the other is strictly private. Regarding the blockchain, Reeg went on to state: “It is an interesting technology....
MasterCard international President Ann Cairns has called blockchain, the technology powering bitcoin, a very promising technology which MasterCard sees as a “good thing for the future.” Private banking corporations, investment banks, stock exchanges, and even central banks have taken deliberate, extensive measures to understand the innovation of blockchain technology in an effort to apply it in their own respective realms. Global card payments network MasterCard is among the companies investing in blockchain technology. Ann Cairns, president of international markets at for MasterCard, a....
Blockchain technology has been a huge topic of conversation at this year’s World Economic Forum in Davos, Switzerland, and the subject was brought up by TechCrunch’s Matt Burns during a panel that featured TransferWise co-founder and CEO Taavet Hinrikus and MasterCard President of International Markets Ann Cairns. Both participants on the panel seemed to agree with the popular sentiment of dismissing Bitcoin while embracing its underlying technology, and Cairns even stated that MasterCard is testing the blockchain in its labs. At one point during the panel discussion, Hinrikus questioned....
MasterCard is looking to stay ahead of the curve by refusing to rush into integrating blockchain technology into their business model. Citing concerns regarding regulation, investment and security, MasterCard Chief Innovation Officer Garry Lyons stated why he didn’t want MasterCard to be “blindsided” by block chain in his comments at the World Economic Forum in Davos, Switzerland: “It’s not just the industry that’s excited about blockchain — it’s the world, everyone. Even at Davos, every single tech panel I have gone to mentions blockchain and some people call it ‘the second coming.’ But....
An assumption popular now in the blockchain space reads that consumers are not interested in blockchain technology and how it works. As this notion has been internalized, product developers and Bitcoin theoreticians have parroted this. But what if it is simply untrue? Many Bitcoiners have made this fateful potentially false conclusion. Just this past November, Brock Pierce claimed consumers do not care about Bitcoin. Perhaps consumers do care about where their products come from. That sentiment is highlighted in the popular show Portlandia, when the show’s protaganists ask about the life....