Mastercard has tested and validated its own blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. The APIs include the blockchain core API, the smart contracts API and the fast pay network API. The blockchain solution aims to offer a new way for consumers, businesses and banks to interact. In particular, the privacy, flexibility, scalability and reach of the new platform will increase the speed and transparency of payments while also decreasing costs.
Mastercard’s blockchain operates independently of any digital currency.