Mastercard Co-President of Asia-Pacific Talks About Blockchain Company Partnerships and Libra
Ari Sarker, who is the co-President of the Asia Pacific division of Mastercard, has recently said in an interview why Mastercard is no longer working with the Libra Association and what he thinks about blockchain technology.
Mastercard Didn’t Discuss Blockchain Until Now
While Mastercard preferred to be silent when it came to blockchain until now, Sarker has said that the payment processor gas partnered up with many of the digital currency companies. He gave an interview for Bloomberg on November 11th, 2019, where he stated that Mastercard is now focusing on payments made between businesses and that the plan is to implement the young technology.
Mastercard Wants to Make Large Transfers Transparent
Mastercard is aware of how much potential blockchain has and wants to make larger transfers transparent, also cheaper. While Sarker didn’t yet mention any blockchain programs in which Mastercard is going to be enrolled, things look promising seeing that the world’s largest payment processor is intending to use digital currency.
Not Only Mastercard Opted to Leave Libra at the Moment
Asked why Mastercard is no longer part of Facebook’s plans for cryptocurrency, Sarker went on to say that he believe's that this happened as a result of the regulatory uncertainty that was happening. BeInCrypto reported in October that Facebook’s Libra was heavily tested as many giants such as Visa, Mastercard and eBay have decided to no longer be a part of the project. In the Bloomberg interview, Sarker said that Mastercard is operating as a regulated entity on many markets, so it would become liable if continuing to work with Libra in this time period of regulatory uncertainty. He continued by stating that Mastercard decided to join Libra for the affirmation of regulatory commitments, but that now their approach is to wait and see what’s going to happen. Maybe Mastercard will once again take part in the Libra project, as soon as things become more certain. What’s good to know for now is that the giant payment processor is implementing blockchain technology, not to mention how nice it is to speculate on what Sarker has said about it.