Mastercard enters into crypto market : Is it a sign of Bullrun??

Credit card giant MasterCard was granted a patent for a (Method and system for linkage of blockchain-based assets to fiat currency accounts.) A disclosure from the US Patent and Trademark Office explains it relates specifically to the use of centralized accounts to manage fractional reserves of fiat and blockchain currency updated via transaction messages corresponding to fiat and blockchain based payment transactions

In May 2018 MasterCard touts the plan to serve customer interest in cryptocurrency and provide a gateway for those concerned about the security of existing digital token payment frameworks, in addition to speeding up the infamous slow transactions.

Mastercard noted blockchain technology serves a limitation to customer security regardless of its famed immutability, which can potentially act as resistance for payees. The firm singled out bitcoin ten minute transaction time – due to verification, block size, and extensive resource use – as a limiting factor in bringing cryptocurrency payments to fruition.
However, Mastercard argues cryptocurrencies ensure very little protection to the receivers of funds. While traditional fiat payments are processed in a matter of seconds, crypto transactions can sometimes take as long as ten minutes. If you are trying to pay with cryptocurrencies at a retail store, for example that delayed confirmation can be an issue.

Additional, the document states people are taken aback by cryptocurrencies and the blockchain because they are so different from traditional payment methods. For that reason, combining systems already in place for fiat currencies with the digital assets could potentially promote adoption while retaining the benefits of decentralization.

In an email to CNBC Eisen wrote, We are consistently looking at ways to bring new thinking and new innovations to market to create value for us and our customers and cardholders. Patent applications are part of that process, taking steps to protect the company’s intellectual property, whether or not the idea ever comes to market.
Source : https://www.ccn.com/MasterCard