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MasterCard technology, license from FINMA and control of China

10/11/2018
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  • finma_crypto_fund
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The next blockchain patent was awarded to MasterCard, the Swiss regulator FINMA licensed a cryptocurrency fund. China has control over the pools for mining.

MasterCard patents multicurrency blockchain system

MasterCard has received a patent for a blockchain with various data chains. According to the developers, their invention will be able to store a block of information with various composite structures. In the future, this will allow creating a multi-currency payment system based on a single blockchain.

MasterCard is a leader in the number of patents received in this area. It has plans to soon register at least 30 more inventions. They concern such areas as linking accounts, anonymity, user verification and control of payment activities.

More about MasterCard&blockchain

Chinese government can influence bitcoin

Researchers at Princeton University came to the conclusion - now it is China that is able to exert the greatest influence on Bitcoin. According to experts, 80% of the mining of this coin is made in just six pools. Five of which are located in China. If the authorities of the country introduce new forms of regulation of the blockchain activity, Bitcoin will have difficulties.

Anxiety is caused by the ability of the Chinese to seize more than 51% of the hashrate, which can lead to a hacker attack. If one of the users gets access to more than half of the network’s capacity, he will be able to conduct an “attack 51”. It is unlikely that China will take such a step. But it has a mechanism for disrupting the functioning of the network.

FINMA licensed a cryptocurrency fund

The Swiss securities market regulator FINMA has allowed the Crypto Fund to operate in the country. The company was founded in 2017. It is engaged in asset management and the formation of collective investment packages. As the name implies, funds are placed in financial instruments based on cryptocurrencies.

Now the Crypto Fund has the same rights as the traditional investment funds in the country. It will be able to offer advisory and fiduciary services to both Swiss and foreigners.

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