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Tag Archives: MasterCard

Mastercard Thinks Blockchain Can Simplify B2B Transactions in New Patent

Financial services giant Mastercard has invented a blockchain system that it believes can simplify business-to-business (B2B) transactions in a high-volume enterprise environment. That system is outlined in a series of three patent applications filed by the New York-based multinational firm in March, made public on Thursday by the US Patent & Trademark Office (USPTO). Writing in one filing, the patent ...

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Mastercard CEO Calls Anonymous Cryptocurrencies ‘Junk,’ Again

Ajaypal Banga, the CEO of Mastercard, blasted cryptocurrencies during the “New India Lecture” at the Indian Consulate earlier this week, The Times of India reports Thursday, July 26. Banga described anonymous, non-state-issued cryptocurrencies as “junk,” because their prices can fluctuate “wildly” and thus they do not “deserve” to be considered a medium of exchange. Speaking at a series of lectures ...

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Mastercard CEO Calls Crypto “Junk” for Lack of Transparency and Stability

The president and CEO of Mastercard has called cryptocurrencies “junk,” arguing that they don’t deserve to be considered as a medium of exchange. Ajay Banga was making his comments at the New India Lecture organized by the Indian Consulate in New York in partnership with the U.S.-India Strategic Partnership Forum (USISPF). His remarks come after the news that Mastercard secured a potentially ...

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Mastercard CEO Attacks Cryptocurrencies Again, Branding them ‘Junk’

The president and CEO of Mastercard, Ajay Banga, has used the J-word again. Speaking in New York, Banga termed cryptocurrencies ‘junk’ arguing that the factors that made them unqualified to be mediums of exchange included their anonymous nature and the wild fluctuations they experienced. “I think cryptocurrency is junk….The idea of an anonymized currency produced by people who have to ...

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Crypto Community Responds to Mastercard Outage

Crypto community responds to Mastercard outage: Global payment giant Mastercard suffered a huge outage last week that led to a substantial hold-up in users’ transactions. Mastercard down – users report card payments failing due to glitch https://t.co/UxaCec5vhQ pic.twitter.com/XsSlIlqaLQ — Frédérique FP (@Frederique_FP) July 16, 2018 First reported by the Financial Times on July 12th, the outage had a global impact that ...

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Mastercard Gets Patent for Creating a Cryptocurrency-Fiat Hybrid

Mastercard, the global credit and payments processor, recently received a patent in the United States for a cryptocurrency and blockchain system that speeds up transactions by first running payments through fiat accounts. The document filed with the United States Patent and Trademark Office (USPTO) is titled “Method and system for linkage of blockchain-based assets to fiat currency accounts” The patent ...

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Mastercard Wins a Patent to Link Cryptocurrency With Fiat Accounts

Mastercard has been granted a patent that grants it rights for a method for “managing fractional reserves of blockchain currency.” With Mastercard’s latest patent, we’re getting closer to using our cryptocurrency credit cards to purchase goods. According to the filing, the method addresses the storing of both fiat and cryptocurrencies under one profile. This means, as a user, you’d have ...

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Mastercard Files Blockchain Patent | Crypto/Fiat trading Will Be Faster

Mastercard files blockchain patent: Mastercard has filed another blockchain patent. According to a US Patent and Trademark Office, the company filed the patent July 17. The new patent is aimed at consumer protection and blockchain payment transactions.  The patent document outlines its main goal: to quicken merchant transactions that use cryptocurrencies. Currently, the length of time it takes to confirm and complete ...

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Mastercard Files Patent for Payment System Linking Blockchain Currency, Fiat Accounts

Mastercard has filed a new patent for consumer protection and payment transactions based on blockchain technology, according to a US Patent and Trademark Office (USPTO) patent filing published July 17. The new patent application includes a new form of a public blockchain-based method for linking assets between blockchain and fiat currency accounts. Mastercard’s patent describes the method for “managing fractional ...

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Mastercard Wins Patent for Anonymous Blockchain Transactions

Financial services giant Mastercard was awarded several new blockchain patents this week, continuing its trend of embracing distributing ledger research even as it expresses open hostility to bitcoin and other cryptocurrencies. However, one particular patent is raising eyebrows. The patent, awarded by the U.S. Patent and Trademark Office (USPTO) on Thursday, outlines a system that facilitates anonymous transactions over a ...

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