Bitcoin Global News (BGN)
June 05, 2018 -- ADVFN Crypto NewsWire -- Today, at
the Money 20/20 conference, which apparently had
over 5,000 attendees, including more than 2000 companies,
MasterCard announced that it has a Blockchain that can run its
entire company.
Before you close this window and
begin investing more into Crypto, it’s important to make clear that
although MasterCard has been working on a proprietary Blockchain
for quite some time, they still don’t feel confident that it has
enough “real use cases,” to launch.
Mastercard’s vice chair, Ann
Cairns, added that this means, what’s most important, is making
sure that the benefits of the Blockchain truly outweigh the
benefits of the legacy technology.
In doing so, she mentioned examples
like proof of authenticity as
well as improvements in global
trade as current, theoretical use cases that the
Blockchain is exhibiting. At the same time, Cairns made clear that
there’s still a gap between theory and actual evidence of these use
cases causing real change in their respective niches.
On the other hand, MasterCard has
also increased their Blockchain-related hires, at least, in their
European wing, on top of filing a patent related to technology that
aims to establish more efficient data
verification processes on the Blockchain.
When all of the facts related to
Mastercard’s efforts are taken into consideration, it may be
concluded that they believe that the Blockchain industry hasn’t
truly reached its growth stage.
By definition, the growth stage of an
industry includes the phenomenon in which the top players
are clearly apparent and clearly control the majority of the market
share. Even more importantly, in a growth stage, profits decrease
in importance in favor of research and development and
marketing.
With the industry as volatile as it
is now and as full of massive ICOs as it is now, it seems apparent
that profits are still the primary goal. In connection with this,
excluding Bitcoin’s monopoly-like market share due to its status as
the first mover, there doesn’t seem to be a clear sign of a group
of top players fighting for the remaining pieces of the
pie.
If, therefore, this conception of
the current state of the Blockchain industry is taken as true, then
Mastercard’s current reluctance to launch their product might be
easier to understand.
Perhaps, to quote another
traditional business concept, they’re just hedging their bets and
waiting for the proper window of opportunity which they can use to
fully enter the market, and quickly become one of the top players
during the true growth stage.
By: BGN Editorial Staff
News:
Mastercard
Blockchain
Cryptocurrency
ICO