OneBit Developing Wallet Compatible with MasterCard PayPass

A Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term startup, OneBit, says it is working on a mobile bitcoin wallet that will allow the cryptocurrency to be accepted at any shop with a MasterCard PayPass terminal.

Mastercard's PayPass enables contactless Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term with near-field communication (NFC) technology.

The OneBit concept was born out of a MasterCard hackathon and according to founder Toby Hoenisch, MasterCard gave very positive feedback. He commented, "We managed to get MasterCard and DBS bank interested in OneBit and with their help, I am confident that we can build OneBit without getting burned like Charlie Shrem did."

OneBit has appealed to the Bitcoin community for its support, which can help it gain acceptance into the bootcamp Fintech accelerator in Singapore and eventually secure funding.

The grand irony is that MasterCard was one of the commenters at a recent Australia Senate inquiry which expressed concern over Bitcoin, particularly its pseudo-anonymity. The development perhaps shows that while credit card companies are certainly in no hurry to tip their hats to digital currency, they may be becoming more open to finding opportunities for collaboration.