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Author Topic: Mastercard and blockchain  (Read 187 times)
Compiler
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July 18, 2018, 05:36:29 PM
 #1

MasterCard have the objective of facilitating transactions through blockchain with a new payment system. So he applied for a patent to the USPTO on a simpler way to link cryptocurrency payments with real-life accounts.

The submitted application covers a "method and system for linking blockchain-based assets with trust-currency accounts". That is, it would allow MasterCard users to link their cryptocurrencies to their MasterCard accounts.

With which, as a user, you would have two accounts linked to your bank, one for your fiduciary assets and one for your cryptocurrencies.

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July 18, 2018, 10:33:31 PM
 #2

Add a source when you're posting from a news article, like:
http://www.bitcoinsglobalnews.com/mastercard-wins-a-patent-to-link-cryptocurrency-with-fiat-accounts/

And if you can't translate things by yourself, don't use google translate.
https://bitcoin.es/noticias/mastercard-avanza-hacia-el-mundo-blockchain/

You're going to get in trouble sooner or later  Sad

perova93
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July 19, 2018, 06:24:53 PM
 #3

master of cards and visas declared war on the whole crypto system and bitcoin! they understand that now from their personal control huge amounts of money have left! with the help of this money, they received very good interest! and now most of the transactions pass through the bitkoyin and crypto system!

First77
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July 19, 2018, 06:34:42 PM
 #4

Mastercard Slogan: There are somethings money cannot buy. For everything else there is mastercard   Grin
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July 19, 2018, 06:42:34 PM
 #5

Blockchain without trustless, decentralized, immutability or permissionless is useless and basically only slow/obsolete version of any centralized database. They should use DLT (Distributed Ledger Technology) instead Tongue

Just like on most cases, MasterCard only use blockchain as buzzword. Besides, user won't see the difference.


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July 19, 2018, 06:57:06 PM
Merited by Vannie12 (1)
 #6

master of cards and visas declared war on the whole crypto system and bitcoin!

Master of cards Cheesy Brings master of puppets to mind.

I think it's fine, although I don't like CC companies we can clearly see a pattern here. Can't beat them? Join them! Fine, there's nothing we can do about Bitcoin, so it's time to make money on it. If they really want to keep buying it let's make sure they use our cards to do it. Once again free market prevails.



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July 19, 2018, 07:01:55 PM
 #7

master of cards and visas declared war on the whole crypto system and bitcoin! they understand that now from their personal control huge amounts of money have left! with the help of this money, they received very good interest! and now most of the transactions pass through the bitkoyin and crypto system!

Debit cards and credit card payments are digital money/transactions. Bitcoin buyers hyped up bitcoin use in digital payments. Bitcoin is the small fish in the digital world.
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July 19, 2018, 07:02:40 PM
 #8

I will reduce the use of cards in the future. If most people accept the encrypted currency, why do we need cards?
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July 19, 2018, 07:13:50 PM
 #9

 Mastercard is already working on cryptocurrency/blockchain for some years. And last year the company started to open its blockchain to banks and merchants as an alternative for cross-border payments. It's supposed to be more efficient but it's maybe not... because until now I have never heard about a merchant or a bank working with the Mastercard blockchain

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July 19, 2018, 07:23:29 PM
 #10

master of cards and visas declared war on the whole crypto system and bitcoin!

Master of cards Cheesy Brings master of puppets to mind.

I think it's fine, although I don't like CC companies we can clearly see a pattern here. Can't beat them? Join them! Fine, there's nothing we can do about Bitcoin, so it's time to make money on it. If they really want to keep buying it let's make sure they use our cards to do it. Once again free market prevails.




Exactly that is why as soon as bitcoin started getting popular, master card and visa has stopped supporting virtual and physical bitcoin credit cards, and now they are trying to get on its success and gain profit under the name of blockchain, similar to how some central banks banned ceryptocurrencies and they are planing of making use of blockchain, and also similar to how Facebook banned crypto ads and now they want to launch their own.


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July 19, 2018, 08:05:18 PM
 #11

Add a source when you're posting from a news article, like:
http://www.bitcoinsglobalnews.com/mastercard-wins-a-patent-to-link-cryptocurrency-with-fiat-accounts/

And if you can't translate things by yourself, don't use google translate.
https://bitcoin.es/noticias/mastercard-avanza-hacia-el-mundo-blockchain/

You're going to get in trouble sooner or later  :
(


This part is very key and no matter how relevant and informative the article shared, it does not remove the punishment for plagiarism which is an outright ban if caught and acted upon why the Mod and based on your comment, it seems this is not the fort time is doing such.

I feel this is establishing monopoly in the market because there was a time where both MasterCard and Visa disabled the use of their cards for crypto withdrawals for all country outside the EU but now they are coming out to absorb what they had initially went against. I only pity those people who sold off their coins because of the decision of MasterCard and Visa at the time who believed that for ending their support means the end of bitcoin.

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July 21, 2018, 10:23:17 AM
 #12

Commendable work, Having separate account for both fiat and BTC would revolutionize the card system.
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July 21, 2018, 12:38:24 PM
 #13

Bold initiative, allowing cryptos to be exchanged fiat currencies without facing any problem is what everyone wants. Having separate account for both currencies is also a good idea to normalize BTC.
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July 21, 2018, 01:35:14 PM
 #14

MasterCard have the objective of facilitating transactions through blockchain with a new payment system. So he applied for a patent to the USPTO on a simpler way to link cryptocurrency payments with real-life accounts.

The submitted application covers a "method and system for linking blockchain-based assets with trust-currency accounts". That is, it would allow MasterCard users to link their cryptocurrencies to their MasterCard accounts.

With which, as a user, you would have two accounts linked to your bank, one for your fiduciary assets and one for your cryptocurrencies.
Existing payment systems are often configured to perform complex calculations, risk assessments, and ultrafast fraud prevention algorithms to ensure rapid processing of legal transactions.
Accordingly, the use of traditional payment networks and payment system technologies in combination with blockchain currencies can provide consumers and merchants with the benefits of blockchain while maintaining security. Account information and provides strong protection against fraud and theft. It can be said that MasterCard is the current Prince of Blocks related to Blockchain.
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July 21, 2018, 01:49:23 PM
 #15

these in my opinion are the first steps towards adoption but as always instead of decentralized communities (most of them failed their mission because of the greed) the centralized companies are adopting it and will sell it in the future back to us.
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July 22, 2018, 01:53:10 PM
 #16

I heard that bitcoin is involving with it. It would be great if it happens. Investors will find it easy to deal with cryptos in future.
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July 22, 2018, 02:08:56 PM
 #17

From all point view if mastercard want to partner with blockchain for a better financial system it means blockchain has begone a journey towards becoming generally acceptable by the masses, banking system and government. The early birds in blockchain technology should get ready to be employed in almost all the sectors.

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July 22, 2018, 02:30:19 PM
 #18

I saw the news flash, but haven't read the details. I am happy about the coming of Mastercard, this will further make more and more persons to join the bitcoin network and even cause big institutions to majorly start investing in Crypto. Better days are here.
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July 22, 2018, 07:26:11 PM
 #19

MasterCard provides facility when transactions are occurs on the other hand blockchain also provides security and also doing payment system. They are almost similar.
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July 22, 2018, 10:35:57 PM
 #20

It is great. It will help all the crypto and mastercard user to buy and sell products easily. It will make their life much more easier. It's really good to see that many big companies are supporting and appreciating it as well.
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