Mastercard has added blockchain APIs to its developer site to “facilitate new commerce opportunities for the digital transfer of value”, following Visa’s announcement last month it aims to pilot its B2B Connect system next year after working with blockchain developer Chain.
The payments giant says Mastercard Blockchain will “allow businesses and financial institutions to transact on a distributed ledger”, adding its technology can “power multiple use cases and can help take time, cost and risk out of financial flows”.
The Blockchain Core API will allow developers to run their own blockchain nodes, define transaction types and manage participation in a blockchain network.
The Smart Contracts API, meanwhile, allows for custom scripts using Mastercard’s Smart Contract language for use in custom blockchain applications.
Last month, Visa said it was working with blockchain developer Chain to develop a near real-time transaction system for high-value international payments between participating banks.