Invisibility key to mainstream crypto adoption says Mastercard Exec

What

During an online event, a Mastercard Exec stated that crypto must become an invisible part of the financial system to enable mass adoption

Why 

The executive went on to say that he expects growth in places where businesses can embed DeFi products into their existing offering

What next

To achieve mass adoption, the crypto community needs to break out of its bubble and convert people who aren’t interested in digital assets, the exec concluded

The story

During an online event hosted by Avalanche, Mastercard’s VP for new product development and innovation Harold Bossé outlined the need for crypto to integrate into existing financial systems to become successful.

“[Crypto] has to become invisible,” he said. “I keep saying that and I sound like a broken record, but it has to disappear in the background for a user who doesn’t care — honestly, my mom doesn’t care if it’s [centralised finance] or DeFi.”

He also felt that the lack of crypto knowledge at senior management levels, regulation and the cost and speed of blockchains were barriers to corporates adopting DeFi technologies.

Similarly, confidence in crypto was key for the executive. He added that the crypto community would need to break out of its bubble to convince mainstream audiences not currently interested in digital assets to invest.

To learn more about DeFi and cryptocurrencies, visit our learning resource here.

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