Mastercard Started Forming A Blockchain Team For Crypto Payments

Mastercard started working with a team of blockchain and crypto experts that will work together at the ‘’cutting-edge intersection of payments and cryptocurrencies’’ as we can read in the latest reports that reached some of the best cryptocurrency news sites.

According to the jobs tracker portal of the payments powerhouse, the company posted several high-leevl positons that are related to cryptoeconomy in the past few days. The positions were later updated including a Blockcain Solutions Architect opening another VP and Product manager position in the company’s Blockchain and crypto arm. Some of the job offerings included similar introductions. For example, there were some postings where it says that the company will work with multiple divisions at Mastercard in order to create new products and to serve as point persons for all things that are crypto related in the company:

 “The Director, Cryptocoin/Wallet Product Management will use his / her payment and crypto-currency expertise in identifying new opportunities, and work with a cross-functional team comprising of Franchise, Compliance, Regulation, Products, Labs, Regions and Technology to develop new products and solutions. He / She will be a “go-to” person for Crypto currency wallets and crypto-currencies for education, thought leadership, and product roadmap knowledge.”

Mastercard started working with some blockchain-based patents since 2016 so it is clear to see that the company is looking some great value in the technology. Of course, patents are not a public roadmap so the speculation has swirled as how seriously Mastercard is now approaching these applications. The latest job postings suggest that the company is very serious in its intentions. This means that in the near future we will see a Mastercard blockchain in the next few years since in 2018 the company won a patent for a blockchain that could facilitate different kinds of transaction types and assets.

The payments company will generate billions of dollars of additional revenue annually and this only means that the company will be picking up more steam to legitimize milestone for the cryptoeconomy. As we can read in the latest cryptocurrency news, another mega company is eyeing crypto-Facebook. The social media giant aims to launch its own stablecoin Libra which will be backed by a basket of fiat currencies.