Mastercard will use blockchain

Mastercard will use blockchain

MasterCard is going to hire a total of 175 staff, including blockchain specialists.

Recently, MasterCard announced that they will be happy to use cryptocurrency if central banks endorse or issue them.

And on Thursday the payment giant announced that it is hiring 175 new technology developers, including blockchain specialists.

The developers will work at the Mastercard office in Ireland. New employees will develop more efficient payment systems "to benefit our customers around the world."

“MasterCard Labs is working on a blockchain technology that will support a wide range of use cases, including but not exclusive to [business to business] interbank payments, tracking trade finance obligations along the value chain, exchanging know your customer and anti-money laundering data between trusted parties, and more,” Ari Sarker, co-president of Mastercard's Asia-Pacific business, said.

It is worth noting that last September Mastercard filed a patent application on the blockchain-based system for recording "purchase orders, invoices [and] transaction data." The Mastercard spokesman said they had filed for “more than 30 patents related to blockchain technology and cryptocurrency”.


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