Mastercard opens access to Blockchain API
November 2017, News
Mastercard announced that it will be opening up access to its blockchain technology via its API published on Mastercard Developers. Mastercard’s blockchain solution provides a new way for consumers, businesses and banks to transact and is key to the company’s strategy to provide payment solutions that meet every need of financial institutions and their end-customers.
The company has tested and validated its blockchain and will initially implement the technology in the business-to-business (B2B) space to address challenges of speed, transparency and costs in cross-border payments. The Mastercard blockchain technology will complement the company’s existing capabilities including virtual cards, Mastercard Send and Vocalink to support all types of cross-border, B2B payment flows – account-based, blockchain-based and card-based.
There are four key differentiators of the Mastercard blockchain – privacy, flexibility, scalability, and most importantly, the reach of the company’s settlement network.
• Privacy – Mastercard blockchain provides privacy by ensuring that transaction details are shared only amongst the participants of a transaction while maintaining a fully auditable and valid ledger of transactions.
• Flexibility – Partners can use the blockchain APIs in conjunction with a wider suite of Mastercard APIs to create a range of powerful, new applications. Software development kits are available in six different languages to make the APIs even easier to integrate.
• Scalability – Mastercard blockchain is designed for commercial processing speed and extensibility by reaching consensus between a trusted network moderator and network participants.
• Reach – Mastercard blockchain is integrated into the company’s payment network that includes 22 000 financial institutions to move funds that have been committed on the blockchain.
|
|
|
|
|
|
|
Further reading:
- What’s a little fact or two?
May 2018, Technews Publishing, News
In the last issue of Hi-Tech Security Solutions we carried an article that reported on a security vulnerability in Hanwha Techwin cameras. As it turns out, the report was correct, but it wasn’t all that ...
- Securex preview 2018
Securex 2018 Preview, Specialised Exhibitions Montgomery, News
Securex 2018 is set to be another exciting show with some regular exhibitors, some new ones and a host of other highlights to keep visitors interested.
- Johnson Controls celebrates 50 years in SA
May 2018, Johnson Controls, News
Johnson Controls celebrated 50 years in South Africa at an exclusive event for customers, partners and affiliates.
- Techwin focuses on South Africa
May 2018, News
Hanwha Techwin and Genetec recently held a roadshow for their partners in Johannesburg, where they highlighted the latest solutions they have on offer.
- Loudon joins Sensor
May 2018, Sensor Security Systems, News
John Loudon has joined Sensor Security Systems as business unit manager of access control and biometrics.
- ZKTeco supports the community
May 2018, ZKTeco, News
As part of its social responsibility to the community, ZKTeco partakes in a variety of community events and offers support where it is needed.
- Hikvision shapes intelligence
May 2018, Hikvision South Africa, This Week's Editor's Pick, CCTV, Surveillance & Remote Monitoring, News, Integrated Solutions, IT infrastructure
Hikvision holds ‘Shaping Intelligence’ AI Cloud World Summit to discuss building an Artificial Intelligence (AI) ecosystem through open collaboration.
- Dahua complies with GDPR
May 2018, Zhejiang Dahua Technology, News, CCTV, Surveillance & Remote Monitoring
Dahua Technology works with TÜV Rheinland to build an enhanced personal data protection ecosystem in time for the launch of GDPR.
- NFC ID app
May 2018, Rosslare Security Products, Products, News
Rosslare introduces new NFC ID App (for Android) for use with CSN SELECT readers.
- CCTV isn’t just CCTV anymore
April 2018, Technews Publishing, News
Sometimes it seems as if the world of surveillance is similar to the world of IT programming. Companies don’t want to hire new staff with no experience, nor do they want to spend the money training staff ...
- Are you not entertained?
April 2018, Technews Publishing, News
You will notice that your parcel from Hi-Tech Security Solutions this month is a bit larger than normal. In addition to the April issue you will also receive the CCTV Handbook 2018, consisting of 104 ...
- South Africa joins global artificial intelligence community
March 2018, News
Global non-profit organisation City.AI welcomes South Africa as a new member of its City.AI community. The first Cape Town City.AI event will take place on 27 March 2018.
|
|
