Will Mastercard Play the Game of Cryptocurrencies?
About ten years have passed from the emergence of cryptocurrencies and Blockchain. During these years, many hopes and fears have been around this new technology. Some assumed them as an ideal opportunity to enter new tools to the world of trade and economy and some others looked at them as a threat that given its various capacities especially in the field of economic and financial issues, they can be a successful rival for foreign bill companies, banks and financial institutes.
About ten years have passed from the emergence of cryptocurrencies and Blockchain. During these years, many hopes and fears have been around this new technology. Some assumed them as an ideal opportunity to enter new tools to the world of trade and economy and some others looked at them as a threat that given its various capacities especially in the field of economic and financial issues, they can be a successful rival for foreign bill companies, banks and financial institutes. However, regardless of all these discussions and sometimes debates, cryptocurrencies and Blockchain have come to remain and this very fact has caused big companies such as Mastercard take the necessity of entering to the world of cryptocurrencies more seriously.
How Has Mastercard Entered the World of Cryptocurrencies?
In a job announcement which has been conducted by the company Mastercared, there are different job posts for this company investigating them will be agreeable; some staff for creative design of the systems, research and offering alternatives based on Blockchain. According to the job description specified for them, the new employees should be able to work in the field of technologies which are related to cryptocurrencies and based on Blockchain. Different pieces of news imply that Mastercard company wants to employ wallets designed for cryptocurrencies; to put it more precisely, Mastercard has shown that it intends to use new technologies of cryptocurrencies in its processes. Hence, it strongly seeks for attracting veteran staff in this area and wants to hire skillful engineers and experts which are powerful in doing research and conducting scientific projects.
How Is the Cooperation of Mastercard with Facebook?
Mastercard is among the first companies and organizations which intend to join Facebook to support its new cryptocurrency; i.e. Libra. Facebook cryptocurrency which is somehow considered a type of stablecoin will be supported by some different and well-known companies such as Mastercard and these companies will start controlling transactions and current measures in the infrastructure of a centralized network in a system wherein Facebook stablecoin (Libra) is exchanged. It is not a good time to give any specific comment about the success and the future status of Libra, but the presence of the companies such as Mastercard shows their tendency to partake in these new areas. In addition, with the potential cryptocurrencies have, rejecting companies whose activities are in some way related to cryptocurrencies will cause their retreat and defeat.
How is the Cooperation Between Mastercard and Bahrain Electronic Network?
It is said that Bahrain Electronic Network which is active in financial transactions has begun collaborating with Mastercard to jointly employ cryptocurrencies in a new infrastructure in international financial exchanges and interactions. Such collaborations lead to the growth of the application of cryptocurrencies globally and greatly transform commercial payments. Welcoming cryptocurrencies by the countries like Bahrain can be an introduction to set in motion the serious presence of Blockchain and its belongings in the world of trade and economy.