CoinSpeaker Mastercard Makes a U-turn Seeking to Patent Fractional Reserve Banking for Blockchain Assets
The disruption caused by cryptocurrencies and the blockchain technology in the global financial market has drawn the envy of many, especially the global banking institutions and some payment processing giant like MasterCard. The reason is simple! Cryptocurrencies and blockchain have been challenging the modus operandi and status quo of the traditional financial institutions! In the past, MasterCard was an ardent critic of cryptocurrencies and blockchain. At one time, the company refused to acknowledge the potential of blockchain, and is CEO also calling cryptocurrencies as junk!