Even though cryptocurrencies remain somewhat controversial, their underlying blockchain technology is very different. In fact, it has become apparent there are quite a few issues Mastercard can solve with this new technology.
Blockchain has been heralded as a major revolution for the financial sector. Mastercard holds out high hopes for this technology moving forward.
With close to thirty blockchain patents in its portfolio, the card issuer can explore many different options. In this world of growing financial fraud, something has to change.
Utilizing blockchain technology for this specific purpose can yield surprising results. For now, there is still some uncertainty as to how Mastercard will incorporate the blockchain, although different business models can be explored in the coming years.
For major credit card issues, dealing with payment fraud will be one of the top priorities. Merging that with distributed ledgers will be challenging, although one patent hints at an interesting concept. Read more from livebitcoinnews.com…
thumbnail courtesy of livebitcoinnews.com