News, Editorials & Opinions

Mastercard - Denouncing Cryptocurrencies While Embracing Blockchain
Apr 19, 2018
 

Blockchain technology has shaken up the financial world by providing a system for transactions that does not need a central authority, bank or third party payment system. This very reason has made many traditional financial institutions unsupportive of the new technology, as over time it could make their systems obsolete.

Enter Mastercard, the global banking card provider. The company has been somewhat bipolar in their stance towards cryptocurrencies and Blockchain technology over the past few years. The card provider has held virtual currencies at a distance and CEO Ajay Banga took a stern stance in 2017, labelling cryptocurrencies as ‘junk’ in October.

Source: CoinTelegraph (https://cointelegraph.com/news/mastercard-denouncing-cryptocurrencies-while-embracing-blockchain)

Start a free trial today. No credit card required.

 

Free Trial