Remember BABB, the company using ethereum code to revolutionize the banking industry? They have just announced that MasterCard will be available to use with their banking app.


Remember that ethereum based company BABB thats been formally invited by the Central Bank of Lithuania to apply for a banking license?
https://medium.com/babb/weve-been-invited-to-apply-for-a-banking-license-in-lithuania-8cc1b5b9cdc5

They just recently announced that in addition to their patented Blackcard which will run on the ethereum code blockchain and be connected to their app, users will also be able to apply for a debit MasterCard, which can be used worldwide, with no limitations:

BABB is in the process of implementing the defined strategy for acquiring, growing and onboarding traditional retailers (small and medium) as BABB Merchants into BABB network and ecosystem, where they will be able to receive payments with BABB App and the Black card.

**Any payment to a retailer who’s outside the BABB network would be conducted with a Debit Mastercard that any Babb user can apply and use as traditional bank cards. – this information comes from Ricardo (Chief product officer), and was explained as a Black card and a BABB payment card.**

BABB Black Card runs on blockchain and it’s BABB exclusive decentralised payment railways while MasterCard and Visa use traditional banking payment gateways and processing, BABB network is seen as a competitive to traditional ways because as we grow our network we can have faster settlements, cheaper transactions and less reconciliation on banking aspects.

With this approach BABB can just pick up all their target segments without people bringing up any objections because the card will deliver to their needs and expectations. In some ways it is actually genius. You have your ‘normal’ market and on top of that you can capture the market for people sending bax to bax across the world. Perhaps BABB is after the likes of Revolut customers and will also get people switching from standard legacy bank accounts to BABB. If so, this will be ground-breaking. A true synthesis of blockchain technology with a product to also appeal to non-blockchain believers.

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