Payment Giants Tapping into Blockchain Tech

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There’s a great article today by Yessi Bello Perez at Coindesk which lays out what the payment behemoths are doing in the Blockchain space.

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Banks have publicly embraced blockchain technology and prominent figures from traditional finance have also lauded its potential. But how exactly are payment giants such as MasterCard interacting with the world of crypto?

Be it through direct investment, partnerships with companies in the space or public comments on bitcoin and its underlying technology, here’s a round-up of some of the most notable interactions between payment giants and the world of crypto.

A taste of some of the reporting work… but for full article head off to Coindesk and ingest the whole piece.

Mastercard:

MasterCard filed a patent application to be able to incorporate bitcoin into the design of a proposed online shopping cart which would be rolled out to its global customers. Despite this, MasterCard insisted the filing should not be perceived as the company’s support of bitcoin.

Visa:

Visa CEO Charlie Scharf spoke about bitcoin in January last year. “There are certainly some interesting things about bitcoin and other things like it, but there are also a great deal of complexities,” he said.

Schartf went on to suggest that Visa was not actively monitoring the bitcoin space: “We feel quite comfortable with the business we have here.”

American Express:

Similar to his contemporaries, Chenault said he saw more potential for bitcoin’s underlying blockchain technology than the digital currency itself.

“The protocol of bitcoin is going to be important,” he said.

Paypal:

Online payments leader PayPal announced its first partnerships in the bitcoin space in September 2014.

At the time, the company’s senior director of corporate strategy Scott Ellison, said the company was “proceeding gradually, supporting bitcoin in some ways today and holding off on other ways until we see how things develop”.

Bitcoin payment processors BitPay, GoCoin and Coinbase told CoinDesk the partnership had been months in the making.

For full article head off to Coindesk and ingest the whole piece.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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