MasterCard has taken the first step of bitcoin investment

MasterCard has taken the first step of bitcoin investment
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MasterCard (MasterCard) eventually choose to enter the field of virtual currency. The company has been identified and several other major investment institutions jointly funded incubator company, bitcoin digital currency group (DCG).

In the round of financing, investors and other Canadian Imperial Bank of Commerce (CIBC), New York life-insurance company (NewYorkLife), TransAmerica Vc firm and Vc firm Bain capital.

MasterCard spokesman said: “this is the first time for MasterCard digital currency investment group. We believe that in the evaluation of virtual currency and block chain technology, digital currency group is doing very well.”

The investment that MasterCard changed in the company strategic level. In November 2014 a report submitted to the British Ministry of finance, the company also insisted that the virtual currency the disadvantages far outweigh the advantages. This statement also has lower transaction costs for the virtual currency, MasterCard is also sceptical.

“The card network compared with MasterCard, virtual currency on the speed and safety of questionable, such as the use of block chain technology to confirm the transaction requires an average of 10 minutes, is a virtual currency against network attacks and concerns.”

Digital currency Group founder and chief executive officer of BarrySilbert SecondMarket was the first company recently acquired by Nasdaq private market. According to him, the digital currency group has invested in 18 countries in 57 companies, has become one of the largest investment in the field of digital currency.

Although Hilbert warmly welcome new investors to join the company, also affirmed their vision of the investment, but he also stressed that the virtual currency investment needs a long time to get a return.

Silbert said: “the distance of bitcoin is a functional currency, we still have a long way to go, I don’t think we are close to the. First of all, it will serve as a speculative investment, pushing up prices and create greater monetary base, in order to attract Wall Street to deal with it. Then, more businesses will be on this ship. When it becomes more mobile, as a kind of “pay” track, it will become a real alternative to the existing capital transfer system in the world.”

From: Weiyang network

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