Bitcoin Daily: Mastercard Files For DLT Patents, SBI Holdings Plans Ripple-Infused App

The World Economic Forum (WEF) has found 65 different applications for blockchain technology to tackle the world’s environmental challenges, CoinDesk reported. To that end, the study looked at ways for platforms to “incubate responsible blockchain ecosystems.” Networks could help manage natural resources, make more sustainable supply chains and help provide ways for funding of economic growth that is “low-carbon and sustainable.” The study, which was released at the Global Climate Action Summit, was made with the help of PricewaterhouseCoopers (PwC).

Mastercard is thinking of tracking consumer payments with the help of blockchain technology, CoinDesk reported. The company wrote about ways that distributed ledger technologies (DLTs) can make records of “point-to-point transactions.” With this information, organizations can make a log that could help make account management easier. In the documents, Mastercard said, “The use of digital ledgers, such as blockchains, may further facilitate the services provided by such a platform, by enabling data to be stored clearly and in a format that is easily auditable by participating entities.”

Jack Ma of Alibaba believes that blockchain technology needs to be environmentally focused and change the manufacturing industry to be useful, The Next Web (TNW) reported. At the World Artificial Intelligence Conference, Ma said, “Blockchain and IoT will be meaningless tech unless they can promote the transformation of the manufacturing industry, and the evolution of the society [toward] a greener and more inclusive direction.” However, TNW noted that most of the speech was geared toward artificial intelligence and its future roles.

Ripple technology might be included with SBI Holdings’ planned upcoming mobile payment app dubbed Money Tap, The Next Web reported. The outlet claims that, based on a translation, the service purports to offer bank transfers without extra fees. The TNW predicts that “given the nature of SBI Ripple Asia’s business,” the app could use blockchain for Ripple. The app is reportedly part of SBI and Ripple’s “SBI Ripple Asia” venture.


New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.