Bitcoin can’t help bank the unbanked claims Mastercard CEO
Another shot in the back of cryptocurrencies was the statement of the CEO of MasterCard Ajay Bang, who shared his opinion on their real possibilities..
According to the head of the organization, the true value of cryptocurrencies has been significantly exaggerated, despite the fact that they have demonstrated a new level of transaction processing capabilities in terms of speed and security of transactions. Banga noted: «I believe that cryptocurrencies — it’s rubbish.
The very idea of an anonymous cryptocurrency was invented by people who want to mine it..
Added to the extremely high volatility of a financial instrument, in my opinion, it is not an effective solution for the field of exchange transactions.».
It is worth noting that such statements in the face of MasterCard’s attempts to apply the developments of blockchain technologies sound rather hypocritical. According to representatives of the company, today they are only interested in the possibilities of improving the work of the current system through the study of advanced technologies, and the transition to full-scale work with cryptocurrencies is not possible under current conditions. An additional argument against digital money on the part of MasterCard was the increase in the number of incidents related to money laundering..
Earlier we wrote that MasterCard received a patent for anonymous transactions through the blockchain.
text: Evgeniya Likhodey, photo: Bloomberg