Mastercard Open to Crypto on Several Conditions

Mastercard representative stated that the company would consider facilitating the use of national digital currencies issued by central banks
19 March 2018   304

Mastercard Incorporated is an American multinational financial services corporation headquartered in New York, United States. Its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use debit and credit cards to make purchases. 

Financial Times reports that Ari Saker, the senior executive at the Mastercard, stated that the company would be "happy" to consider facilitating the use of national digital currencies issued by central banks. The trick is that they are ready to do that on certain conditions: cryptocurrency should be backed by the regulator, meet all the regulatory requirements and should not be anonymous.

If governments look to create national digital currency we’d be very happy to look at those in a more favourable way [compared with existing cryptocurrencies]. So long as it’s backed by a regulator and the value . . . it is not anonymous, it is meeting all the regulatory requirements, I think that would be of greater interest for us to explore.
 

Ari Sarker

Co-president, Mastercard's Asia-Pacific business

Moreover, he added that MasterCard Labs is working on a blockchain technology that should support a wide range of use cases, like interbank payments, tracking trade finance obligations along the value chain, exchanging know your customer and anti-money laundering data between trusted parties, and more.

Previously, we have reported that both Mastercard and VISA decided to change the way cryptocurrency purchases were processed on their networks.

Nakasendo SDK launched by Nchain for Bitcoin Cash Growth

Blockchain company Nchain has released its 1.0 version of Nakasendo software development kit (SDK) to support BCH
24 April 2018   89

Nchain underlines that the Nakasendo SDK is accessible for software programmers focusing their energy and resources relatively to bitcoin cash application and platform development.

Version 1.0 of the SDK focuses on providing a cryptographic library, to allow for a more flexible method of key generation and sharing. This cryptographic library can be used to improve security for any cryptocurrency exchange, and more broadly for controlling access to any type of digital asset or resource.
 Nchain Group, Blockchain Technologies Research and Development Company

 

Nchain points out that the Nakasendo SDK will assist Nchain port software libraries that will help programmers in designing bitcoin cash apps. The SDK designed by Nchain is to navigate the complexities of blockchain growth, and strengthen work. The London firm declares that the SDK includes two patents from the company’s intellectual property portfolio.

Although the SDK libraries will be useful for developers on any blockchain or digital platform, we want to use key elements of nChain’s patent portfolio to help benefit the Bitcoin Cash ecosystem. That is why we are providing the SDK for free usage only for applications and products that operate on the Bitcoin Cash (BCH) blockchain. The SDK is one of many tools Nchain will use to ignite the BCH blockchain, and help re-invent the business world.
Jimmy Nguyen, Nchain Group, CEO

Currently, the 1.0 version of Nakasendo is only available to a determinate group of developers and teams that have been appointed in an initial testing pool. Nchain claims that the Nakasendo SDK will be made more accessible at a later date.