Master Data Management is the discipline of creating and maintaining high value, high quality master data. In this contribution we give a definition of this data category underlining its importance to an overall high level of cooperate data quality. The current situation of commercial master data management solutions is presented. It is based on the results on six systems of two surveys we conducted. Here we discuss the systems capabilities for information integration, data modeling and information quality. After the current situation we provide an outlook on future developments in the area of master data management and discuss the relevance of Peer-To-Peer technologies. On this behalf we go into some detail discussing the specialized architecture VIANA.