Mastercard International Chief: Blockchain Is Good for the Future
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....
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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....
Mastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant’s chief financial officer. Mastercard’s crypto strategy “has been fairly successful ever since crypto environments came up,” he added.
Mastercard’s CFO on Crypto as Asset Class vs. Means of Payment
Mastercard Chief Financial Officer (CFO) Sachin Mehra shared his view on cryptocurrency in an interview published Tuesday by Bloomberg.
He was asked how successful Mastercard’s crypto strategy has been. “In the....
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....
This week, Dr. Ciprian Pungila, co-founder and chief scientist of the revolutionary solution to blockchain scaling challenges, ABEY, spoke about the project at the Future Blockchain Summit in Dubai. There, he discussed the next phase in the project’s roadmap and highlighted the crucial factors that make ABEY the first real crypto market contender to take on the likes of VISA and Mastercard on a transaction per second and throughput basis. Following his speech, those in […]
While other financial establishments such as VISA are experimenting with bitcoin and its blockchain technology, MasterCard has shifted its focus to biometric data security. In an attempt to create a passwordless credit card transaction settlement process, MasterCard is set to develop a system that approves online purchases using facial recognition technology. Ajay Bhalla, in charge of innovative security solutions for MasterCard, said: MasterCard has partnered with every international smartphone manufacturers and developers, including Google, BlackBerry, Apple, Microsoft and Samsung to....