Mastercard is flexing its muscles as it plans to adopt blockchain technology.
In a recent webinar talk, the bank’s VP of new product development and innovation, Harold Bossé said, mass adoption of blockchain technology and digital assets is going to happen sooner rather than later.
“They are early adopters and new adopters, but we have switched toward mass markets, [and] that will be a very important aspect for financial institutions to move into the space.”
Bossé noted that no one saw the internet coming, today it births companies like Amazon… the same will be said about the blockchain technology one day.
“Think about the advent of the internet; no one was thinking that Amazon could even be a concept you need the internet for Amazon to work,” he said.
“We’re in the same situation: How do we transform the lives of people and go into demographics or groups of people who don’t really think about blockchain first but think about their business problems?”
According to Bossé the lack of understanding of the blockchain by the senior management and market regulation are holding back the mass adoption.
“No one will use digital assets on blockchains unless they’re absolutely certain this money is good money,” Bossé adds.
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