President of Mastercard: "Patents will help the development of the company, related to government cryptocurrencies "

According to the president of Mastercard patents, related to state cryptocurrencies, the company will provide an advantage after starting them with central banks.

Mihael Mibach (Michael Miebach) told analysts during the company's report on financial results for the third quarter, that Mastercard intellectual property regarding state cryptocurrencies "puts the company in a good position", Given the prospects for the speedy launch of their own digital currencies with central banks.

"Communication with the receiving network is crucial for state cryptocurrencies", – He said. "So, We own some patents in this area, which will help you connect their transactions directly with our network, where they can be carried out. The company will be able to benefit and benefit from this ".

Miba also stated, that MasterCard is “leading player in the payments industry” regarding patents for technology cryptocurrencies related to cryptocurrencies. However, this may change. According to the study
KISSPatent, Alibaba almost surpassed the American computer giant IBM and by the end of this year will be the largest owner of patents, associated with blockchain.

MasterCard President said, that the company discusses with the governments of different countries their plans for launching their own cryptocurrencies. Mibakh will become the next CEO of MasterCard and will take office in January 2021 of the year.

The current General Director of MasterCard Adzya Banga recently stated, that bitcoin due to its volatility cannot function as a currency for people, not having access to banking services.