Rob Reeg, president for operations and technology at multinational payments giant Mastercard has revealed that while the company is invested in blockchain technology, he doesn’t care for Bitcoin.
The global payments landscape is primarily dominated by Visa and MasterCard, in that order. In a time where a disruptive new innovation like Bitcoin has already scaled and survived beyond many observers’ expectations, it is perhaps prudent that the giants take notice.
Visa, for instance, summed up 2015 in noting that bitcoin and blockchain became “more real than ever before”, as the year that saw blockchain as an innovation that “the industry has to live with.” The payments leader has also notably sought talent for developing and researching virtual currencies, blockchain and other emerging payment technologies. Furthermore, the company is already pooling in engineers to develop blockchain technology, with one proof-of-concept already seeking participants among European banks.
Meanwhile, Mastercard also has a