Michael Miebach Is Saying That Crypto Patents Will Pay Off When CBDC Is Coming
Miebach said to analysts during the company's Oct. 28 Q3 profits call that Mastercard's cryptocurrency intellectual assets "puts us in a good position" for a CBDC future.
He said: "The link into an acceptance network is critical" for a CBDC, and he added "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 further said that Mastercard is "the leading payments player" for crypto IP. Presently it may be right, but maybe not for long. Ant Group subsidiary Alibaba is on route to hold an unusual number of blockchain patents by the end of the year.
A business spokesperson did not instantly reply to questions about the size of Mastercard's crypto IP trove.
Miebach told that Mastercard is speaking with world governments on their ideas for a CBDC.
Miebach should become Mastercard's chief executive in early 2021.
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