Michael Miebach, the President of the FinTech giant, Mastercard, notes that the payment service provider’s continual hunk of Crypto patents is strategic as this will avail it an advantage as soon as Central Bank Digital Currencies (CBDC) are launched globally.
Mastercard’s IP Trove Gives the Brand an Advantage for CBDCs
Miebach made it a point to inform analysts in the course of the Mastercard October 28, 2020 third quarter earnings call that the Fintech brand’s Crypto Intellectual Property (IP) “puts us in a good position” for the reign of CBDCs.
He continued that “the link into an acceptance network is critical” for digital national currencies (CBDC).
Miebach also illustrated a strategic recycle Business Model that is adopted by Mastercard:
“So we hold some patents in [the crypto] space that link these transactions right back into our network where it can be used. And this is how we can bring value, and it brings value to us.”
Miebach however lauded the Fintech giant by stating that it is “the leading payments player” for crypto Intellectual Property.
It appears that Mastercard may have to buckle up as the brand has capable competition up its heels. The Ant Group affiliate named Alibaba is on course to hunk an unparalleled aggregate of Blockchain patents before 2020 runs out.
Mastercard Brainstorms with World Government as Regards CBDCs
Miebach who is scheduled to become Master Card’s Chief Executive Officer come 2021 revealed that the Fintech giant is brainstorming with Nationals around the world as regards their CBDC schemes.
There is still no information as regards the extent of Mastercard’s Intellectual Property Hunk.