Mastercard executive Harold Bossé shows optimism about the massive acceptance of digital assets.
MasterCard Vice President of New Product Development and Innovation Harold Bossé shows his enthusiasm about the crypto space, despite the current crisis the world is experiencing. He believes that the mass adoption of crypto assets and Blockchain technology will inevitably happen sooner than later.
In an Avalanche Powering Business with Blockchain series webinar, Bossé determined that there are millions of people using and sending crypto assets worldwide. His own words were that they are early and new adopters, but the crypto world shifted towards the mass markets, which will be a remarkable feature for financial entities to become part of this space.
Many Challenges Await
Bossé also talked about many challenges to overcome before digital assets became mainstream. He highlighted, among them, a lack of knowledge about senior management, the business logic around scalability, cost and speed, and regulatory policies.
Likewise, the representative compared the current status of the crypto industry with the first years of the internet. He added that nobody thought that Amazon could become such a vast concept, but people require the internet for amazon to work; the same occurs with crypto; people need to focus less on their economic problems and build up their trust.
The comments come as digital assets keep decaying in what seems to be the start of a protracted bear market. Various factors, with the most prominent being TerraUSD algorithmic stablecoin and the LUNA asset and concerns around new policies attached to regulations in the space, have caused the price of crypto to go deep to lower rates.
According to Bosse, all of these factors, and more, might be signs of a more profound need for safety in the environment if the more prominent players want to take part in the big game.
He assured me that he has to become an invisible entity regarding crypto technology. He said he keeps saying that he must become invisible repeatedly, but it tends to fade into the background for users who don’t show interest in cryptoworld.
The representative is talking about forging a robust, more complex ecosystem, ideal for large masses and friendlier with these new services.
The payment company is familiar with the crypto space. It is worth considering that MasterCard has already shown interest in the digital assets sector with cryptocurrency-backed credit features and the recent registration of its trademarks for NFT and Metaverse.
By: Jenson Nuñez
