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OMG Mastercard are joining the cryptospace - wooohooo


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https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

It does make me wonder what effect this move will have on XRP and Ripple!

"With 89 blockchain patents granted globally with an additional 285 blockchain applications pending worldwide, we already have one of the payments industry’s biggest blockchain patent portfolios to draw from to make these projects successful."

Also Amazon are up to something in this space as well - https://www.coindesk.com/amazon-digital-currency-mexico

Edited by HAL1000
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Yep...Mastercard just announced they were going to support cryptos directly on their network, but they won’t say specifically which coin(s) they will support. Only that they had to be more compliant. You know, like having SOC2 certification (from Ripple's press release)

But we do know from Mastercard’s own press release that they are using R3’s Corda to do the settling.

And we know from R3’s own releases that Corda’s first settlement rail is XRP

....

Thus shoring up this rumor from 12 months ago that Mastercard will be using XRP for settlement.  

This is not purely inductive reasoning any more. If XRP ain't one of 'em, we are 100% certain the plumbing is in place.   

Edited by RobertHarpool
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On 2/11/2021 at 1:05 PM, PlanK said:

How do they get past the US "every transaction is a taxable offence" thinking?

 

Will they send everyone detailed transaction accounts every tax years?

Those questions are as fair as any I could think of on this topic. 

 

But no one is interested in paying with crypto anyway I suppose. Just buying/hodling/selling. At least 1 of these 8,000+ projects has decided to focus on some sort of transactional utility...:beach:

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  • 2 weeks later...
On 2/15/2021 at 11:37 PM, RobertHarpool said:

Yep...Mastercard just announced they were going to support cryptos directly on their network, but they won’t say specifically which coin(s) they will support. Only that they had to be more compliant. You know, like having SOC2 certification (from Ripple's press release)

But we do know from Mastercard’s own press release that they are using R3’s Corda to do the settling.

And we know from R3’s own releases that Corda’s first settlement rail is XRP

....

Thus shoring up this rumor from 12 months ago that Mastercard will be using XRP for settlement.  

This is not purely inductive reasoning any more. If XRP ain't one of 'em, we are 100% certain the plumbing is in place.   

Interesting points. Corda Settler's open source code still seems to be mentioning only 2 settlement types which are XRP and SWIFT:
https://github.com/corda/corda-settler/blob/f968c656c0f86edebbac4da6741e2298b709d55f/oracle/src/main/kotlin/com/r3/corda/finance/obligation/oracle/flows/VerifySettlement.kt 

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