Mastercard Adds 175 Positions to Increase Blockchain Development
April 16 2018 - 12:40PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
April 16, 2018 -- ADVFN Crypto NewsWire -- On October 20, 2017
Mastercard announced they were releasing Blockchain technology
based payment solutions. The payment processor already has existing
capabilities to improve on cross-border banking, cross-boarder
payments and improved security through virtual cards, Mastercard
Send and Vocalink.
Blockchain technology provides a greater capacity for these and
other benefits. The Mastercard blockchain was designed to compete
in the global landscape, not just improve upon the services they
offer by focusing on four key aspects (Source):
Pushing For Innovation and Adoption
Mastercard is based in Ireland. The country is home to their
R&D facility “Mastercard Labs” in Leopardstown, where the 175
job have been made available. The executive vice president and head
of Mastercard Labs highlighted the important of a culture
built for innovation to make the benefits of their technology come
to life.
“Ireland is the heart of our global innovation efforts – throughout
Mastercard, Dublin is admired as a key technology hub – we’re
looking to replicate the innovation culture we’ve fostered here in
our offices around the world. The vibrant culture we have here
makes it the perfect place to recruit for these highly-skilled
roles. We need great minds who can look outside of Mastercard’s
traditional payments expertise and create solutions to benefit our
customers around the world, and I’m excited to grow our business
here.” (Source)
Competition
There is heavy competition amongst credit card processors to
enter and utilize the Blockchain space. Visa has made partnerships
with Monaco and TenX to create a
cryptocurrency credit card. These have only been pre-paid cards,
rather than true Credit Cards so far.
By: BGN Editorial Staff
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