MasterCard Opening Their Blockchain API To Partner Banks And Merchants by dragosroua

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blockchain · @dragosroua ·
$9.15
MasterCard Opening Their Blockchain API To Partner Banks And Merchants
In a press release [posted on their website](https://newsroom.mastercard.com/press-releases/mastercard-opens-access-blockchain-api-partner-banks-merchants/), MasterCard announced an expansion of their blockchain partner program. Basically, it will open access to their blockchain-based technology to banks and merchants.

When I'm saying "blockchain-based technology",  I'm not referring to Bitcoin, Ethereum, or something like that, but to MasterCards private blockchain technology, announced last year.

Beyond the PR effect of such an announcement, I think this is a clear sign that, from a technological point of view, card processors are starting to accept that blockchain is the way to go. Although still very young, some blockchain-based technologies can process way more transactions than the current cards processors infrastructure.

Strategically speaking, the area between blockchains, or how blockchains are talking to each other, will become a very interesting sector in the next few years.

At least that's my opinion.
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_If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform)_:
* [Rewards: Were Does The Money Come From?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-rewards-were-does-the-money-come-from)
* [Netiquette: How To Avoid Being A Steem Douche?](https://steemit.com/steem/@dragosroua/steemit-newbie-faq-netiquette-how-to-avoid-being-a-steem-douche)
* [Witnesses: What Are They And Why Should You Care?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-witnesses-what-are-they-and-why-should-you-care)
* [How Can I Mine Steem And What CPU / GPU Power Do I Need For That?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-how-can-i-mine-steem-and-what-cpu-gpu-power-do-i-need-for-that)
* [The Beginner Guide To Not Getting Hacked On Steemit](https://steemit.com/steemit/@dragosroua/the-beginner-guide-to-not-getting-hacked-on-steemit)
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vote details (64)
@robert31 · 
thanks for blockchain information...upvoted
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@germansailor · (edited)
The blockchain technology brings a lot of advantages. Transparency, redundancy, counterfeit security ...
The only drawback is the relatively wasteful way around the storage space. However, this is no longer a problem nowadays, in addition, essentially only text information is stored.

*Die Blockchain Technologie bringt eine Menge Vorteile.  Transparenz, Redundanz, Fälschungssicherheit...
Der einzige Nachteil ist, das relativ verschwenderisch mi dem Speicherplatz umgegangen wird. Das ist aber heutzutage kein Problem mehr, zudem im wesentlichen nur Textinformationen gespeichert werden.*
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@steemmillionaire ·
$0.09
Agree, except "transparancy", which is sonething that banks can not have (bank secrecy, but in the same time full tracking of money when asked by court)
👍  ,
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vote details (2)
@teodora · 
So I guess is the point of not turning back. I believe is a good sign :)
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@anne2322 · 
great
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@adam.angel · 
I always hoped that blockchain tech would do away with big banking institutions. MasterCard cannot beat or compete with blockchain so they are joining it. I still hope that completely decentralised and unowned platforms will gain mass adoption over the likes of MasterCard.
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@ahmadmanga · 
Part of me is really glad that big companies have thier own private blockchains, it proves that decentralization isn't the only advantage of the system.

....I look forward to this:

>  the area between blockchains, or how blockchains are talking to each other, will become a very interesting sector in the next few years.
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@droucil ·
$0.06
Isn't one of the core elements of a blockchain supposed to be open source?
👍  ,
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vote details (2)
@dragosroua ·
$0.04
Not necessarily. Blockchain is a technology, just like http/web. There are open source web servers, like Apache or nginx, but there are also private or commercial web servers, like Microsoft  Internet Information Server.
👍  ,
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vote details (2)
@anarcho-andrei · 
That's something that gets lost on a lot of people, and I think it has to do with where blockchain technology originated.  At the end of the day, it's a method of recording transactions, which can be open or private, like you said.
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