Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Mastercard’s Myriad of Crypto Patents Will Give Payments Giant an Edge in Digital Future, Says Michael Miebach

by Daily Hodl Staff
November 3, 2020
in Blockchain
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Mastercard CEO Michael Miebach says the company’s crypto-related patents are placing the payments giant in a position to capitalize on the launch of central bank digital currencies.

In the company’s Q3 earnings call, Miebach said Mastercard is preparing for the launch of digital forms of fiat currency around the world.

ADVERTISEMENT

“If you look at some of the more prominent examples that are out there, if you look at Sweden, the Riksbank, there is a thought behind the central bank digital currency approach to deal with a world where there is no cash left.

In the Bahamas, they’re looking at the cost of cash. In South Africa, they’re looking at financial inclusion. So there’s a whole range of different motivations, and we’re trying to work with those governments to understand what those motivations might be.

And the central bank digital currency is the best answer possibly. In some other instances, it might be real-time payments or it might be something else that we haven’t even thought about. So that’s the first part of the dialogue. We have come to the conclusion that the construct of a central bank digital currency is an important aspect.

This is in ENC currency. So the central bank as in mining the currency is ensuring the resilience of the infrastructure. It’s critical. While the private sector has a really important role to play in terms of innovation on top of that infrastructure.”

Miebach cites the company’s intellectual property and years of creating patents in the cryptocurrency space as efforts that could pay dividends in the years to come.

“You think smart contracts. You think all sorts of solutions that make the lives of consumers and businesses easier. Now why are we a relevant partner in all of this? How does this affect all of us? First of all, we have invested years in cryptocurrency assets. We are the leading payment player when it comes to patents around crypto.

ADVERTISEMENT

So that is – that puts us in a good position. We have a long track record in consulting with governments. If you look at some of the more prominent examples, we are having a seat at the table to see where this goes. I’ll give you one particularly important aspect of intellectual property that matters here.

Once you have a central bank digital currency, it’s going to make a difference to the consumers. And so how do you actually spend it? So the link into an acceptance network is critical. So we hold some patents in that space that link these transactions right back into our network where it can be used. And this is how we can bring value, and it brings value to us.”

Some of Mastercard’s patent filings include a system designed to keep crypto transactions private, a platform that would allow blockchain technology to save data in multiple transaction types and formats, and a method to link blockchain-based assets to fiat currency accounts.

Featured Image: Shutterstock/Color4260



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,160.00
$49,160.00
3.72%
Ethereum
$1,590.64
$1,590.64
7.81%
Binance Coin
$230.14
$230.14
2.48%
Polkadot
$34.05
$34.05
2.17%
Cardano
$1.15
$1.15
2.21%
XRP
$0.468800
$0.468800
2.58%
ADVERTISEMENT

Spotlight

  • Bitcoin Building on New Highs: From Hashrate to Miner Revenue
    February 26, 2021
  • 5 Altcoins Poised To Capitalize on Next Crypto Hype Cycle, According to Ivan on Tech
    March 3, 2021
  • Is Coinbase Preparing To Launch Its Own Crypto Asset? New Document Hints at New Token
    February 28, 2021
  • Ripple Testing Private Version of XRP Ledger To Power Central Bank Digital Currencies
    March 4, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.