MasterCard executives only focus on the block chain technology, do not care about the blockchain

MasterCard executives only focus on the block chain technology, do not care about the blockchain

RobReeg is a cross-border payment giant MasterCard (Mastercard) operations and technology department general manager. He said that although the MasterCard to block chain technology carried out a great investment, but he is indifferent to bitcoin.

The main field of cross-border payment by Visa and MasterCard leading. At present, the existence and development of bitcoin and other disruptive innovation beyond everyone’s imagination, so the two industry giants if their attention is definitely a wise choice.

Visa in 2015 to make a summary of that bitcoin block chain has become more and more real “. Because in 2015, the whole industry has witnessed the innovation of the blockchain, and common development. The payment giants are still recruiting virtual currency, block chain and other emerging payment technology R & D personnel. In addition, Visa has begun to organize R & D engineers block chain technology, some European banks have been identified to participate in the concept validation project initiated by Visa.

Similarly, MasterCard and bitcoin blockchain technology also have their own views. Last year, the British government departments to consult the MasterCard digital currency related matters, but the answer proves that the payment companies bitcoin attitude.

MasterCard is such a reply:

We can only say that, compared with the MasterCard network, the speed and security of digital currency network is not enough.

MasterCard also questioned the safety of bitcoin blockchain, that the current global trading network is established in the regulatory environment, does not rely on the block chain. From the MasterCard negative reply and digital currency of various point of view, it can be said that bitcoin a contemptuous disregard.

(MasterCard operations and technology department general manager RobReeg)

Now, this bitcoin contempt view has not changed, and even influence all executives within the company. India media interview BusinessStandard MasterCard operations and technology department general manager RobReeg, asked the company to know whether the block chain technology.

Answer Reeg:

Block chain technology is very impressive, we are conducting related research. I personally don’t love bitcoin, but very concerned about the block chain technology.

Reeg bitcoin’s negative attitude and Wall Street executives, JP Morgan chase CEO JamieDimon agree without prior without previous consultation. Dimon has asserted that prospects for the development of bitcoin is poor, and that the study of encryption currency is a waste of time.

Reeg revealed two block chain project of MasterCard in an interview in the accident. One of the public and private chain chain integration system, the other one is completely private chain system. Reeg also from the side shows why bitcoin block chain chain is not the preferred public mastercard.

Our company is mainly responsible for the management of client funds and personal information. So for us, the safety of the blockchain is really worrying. Block chain pursuit is not regulated, but considering the security problem, this is not our first choice.

Reeg refers to safety is to provide convenient financial institutions for money laundering and fraud and other illegal activities, and regulatory authorities in order to prevent this from happening again usually impose fines of billions. But the situation in the past 10 years are just one example.

Without human supervision code is the best way to manage the world.

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