MasterCard confirms partnerships with several blockchain companies
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Answer MasterCard confirms partnerships with several blockchain companies
In a recent interview with Ari Sarker, co-head of Asia Pacific at Mastercard, Sarker shared his thoughts on blockchain technology and why the company left the Libra Association for the time being.
For the past period, MasterCard has been largely silent about the hype around blockchain technology, but Sarker confirmed that the payment processor company, MasterCard, has many partnerships with companies related to blockchain technology, some of which are in the process of being completed.
As told “Sarker” within the interview A TV interview with Bloomberg Markets and Finance earlier said the company was largely focused on business payments and plans to integrate young technology.
MasterCard has addressed the potential of the blockchain to make large transfers more transparent and cheaper between businesses.
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Although Sarker has not named any specific programs for the blockchain, it is a promising statement.
Sarker was asked why MasterCard canceled its joint cryptocurrency plans with Facebook.
Laird responds that the reason is “regulatory uncertainty,” but others believe that other forces have played a role.
He explained:
MasterCard is a regulated entity and operates with a number of markets.
So it will be likely that the payments processing giant will not do business with Libra during a period of regulatory uncertainty.
Sarker added:
MasterCard first joined the Libra project as a way to confirm regulatory commitments.
But it is now taking a wait-and-see approach.
Perhaps we can expect MasterCard to return to Project Libra once the latter matures.
However, we now know for sure that payment processor company MasterCard works closely with blockchain technology.
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We hope to see some details about these plans in the next few months.
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