During the currently ongoing Money 20/20 conference Ann Cairns, the vice chair of mastercard, claimed that the blockchain that was built can run the company as a whole.“You just don’t replace existing technology with blockchain because you may not create a better user experience,” she noted.

Despite the early stages of uptake across legacy finance, MasterCard has been actively pursuing blockchain solutions with ever increasing voracity.In April, the payments giant published a patent for ‘fast tracking’ blockchain growth by speeding up the rate at which nodes verify data.

A slowdown in the company’s growth in Q1 2018 was even directly attributed to the drop in price of major cryptocurrencies and subsequent curtailing of trading activity.“This is due to the recent drop-off in crypto wallet funding,” CFO Martina Hund-Mejean said during an earnings call June 2. “We expect cross-border growth to moderate somewhat.”