MasterCardHarold Bossé, vice president of ‘New Product Development and Innovation’, said that he is optimistic about the adoption of cryptoassets and blockchain technology.
Speaking at a webinar he attended on May 24, Bossé stated that millions of people are already using crypto assets.
“Currently, the audience using crypto assets represents a somewhat early adopter audience, but the industry is now starting to move towards more mass markets and this will be a crucial element for financial institutions to enter the space.”
Harold Bosse, talked about the potential of crypto assets and blockchain technology and underlined how this emerging technology is very similar to the development of the internet. Before internet technology, no one thought Amazon could exist. Thanks to the Internet, this has become possible. According to the manager, people in the markets need to be open to innovations without worry.
However, Bossé did not ignore the current weaknesses of the industry and shared his views on the matter.
“Yes, it will sound like a broken record, but I want to say it over and over again. As much as technology is current and important, my mother is not concerned with decentralization or centeredness of these products.”
Additionally, Bossé thinks there are factors that are keeping cryptoassets from becoming mainstream, such as a lack of senior management understanding, cost and speed, regulatory factors, and business rationale surrounding scalability. Bossé said that as the industry overcomes these challenges, businesses can monetize differently from activity and go beyond what is happening today.
Bossé announced on May 24, “Powering Business with Blocking Business”. Avalanche It was part of the webinar. The webinar was a 40-minute session featuring executives from Mastercard, Wirex and Ava Labs. Topics discussed included next-generation fintech, banking and payments.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.