Interest in cryptocurrency has grown significantly, and many major companies are working on crypto projects of their own. Cryptocurrency has several applications, and the technology is being explored as the future of many industries.
The financial industry is one of the main sectors in which cryptocurrency is being utilized to transform how we perform transactions and handle our money.
Digital assets present several advantages over fiat currencies, and through these, traditional financial systems are on the brink of being replaced by cryptocurrency.
Financial companies realize this, and they are making moves to ensure that they align themselves to the possibility of a world whose main form of currency is digital and decentralized.
MasterCard moving into crypto
One of the world’s largest payment companies, MasterCard is moving into cryptocurrency. The company is hiring cryptocurrency and blockchain experts who will be working directly for the company.
The specifics of the project MasterCard is working on are not known as yet, but it can be safely assumed that the company may be working on a blockchain-based payment platform.
A few weeks ago, the company posted job vacancies for directors with cryptocurrency experience. The jobs advertised then were for three posts related to the product development, product management of blockchain, and the innovation of blockchain solutions.
These executives would lead teams in their respective areas of expertise and help MasterCard push its cause in the crypto industry.
MasterCard is one of the companies which are involved in Facebook’s project Libra. The project has other payment and tech companies on board such as Uber, Spotify, PayPal, Vodafone, Visa, Coinbase, eBay and Lyft.
Libra promises to be one of the most significant crypto projects ever developed and governments across the world view the crypto project as a substantial threat to their financial systems.
The team currently being built by MasterCard will work on projects that create intersections between payment systems and cryptocurrencies.
The team is also tasked with monitoring trends in the crypto industry while also developing new blockchain solutions to ensure that MasterCard stays on top of the game.
Mainstream adoption of cryptocurrency
Cryptocurrencies are well on their way towards mainstream adoption, and with major companies such as MasterCard entering the fray, the process may come about sooner than most would have anticipated.
More people are engaging in online cryptocurrency trading, and this is helping cryptocurrencies to move into mainstream systems.
It is only a matter of time before major companies use blockchain systems as their primary technology.
Decentralized systems will transform how people engage with business and streamline day to day business across the world.