Mastercard Expands Blockchain Operations

Credit card giant Mastercard has launched a series of Blockchain payment tools that first appeared last year to banks and for wider use. continues to move forward by opening it up to merchants.

In the press release, the company first announced today that it is business-to-business(B2B) as part of its bid to “solve speed, transparency and cost issues in cross-border payments”. It has been announced that it will be working on technology with strong> transactions.

Mastercard unveiled its first Blockchain study in October 2016 by releasing systems targeting smart contracts and payment settlement processes. At the time, Blockchain led Justin Pinkham to say that the company is looking for collaborators to work with the firm’s platform.

Now, Mastercard’s other firms are aware of the friction experienced over their cross-border payment processes. encourages them to initiate account closures through Blockchain APIs, which are said to be able to mitigate some of them.

Mastercard Lab Deputy Chairman Keen Moore , said in a statement:

”By combining Mastercard Blockchain technology with our networks and associated network rules, we have created a secure, robust, auditable and easily scalable solution path.”

The company said it intends to combine its Blockchain APIs with other services that allow its partners to develop their own usage requirements and create unique transaction types.

Moreover, Mastercard ”M He highlighted astercard’s efforts to seek intellectual property around the use of their technology, as well as working with the Enterprise Ethereum Alliance on usage requirements “well outside of the traditional payment environment.

For example, in the patent application that was recently revealed, the company stated that it is examining an official payment agreement system that can consider Blockchain as a payment tool for B2B.

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