- They called for looking at blockchain from more than just an investment perspective
- The cryptocurrency ecosystem offers much more opportunity
Executive Vice President (EVP) of Mastercard Raj Dhamodharan spoke at the North America Innovation Day event.
In addition to his position as vice president, he heads Mastercard’s blockchain division. So the expert touched on the cryptocurrency industry in his speech:
“Cryptography has experienced a lot in the past few quarters.
In the web3 world, we are seeing a significant influx of capital, innovation, and talent. But more work is needed so that traditional players can enter the ecosystem with confidence.”
Dhamodharan urged to look at the industry as more than just an investment. Blockchain technology extends much further. And it also allows you to solve a number of important problems.
“There is a whole sector that is much more useful to the financial industry as a whole. The technology itself holds great promise.”
The businessman noted several uses for blockchain. It is the ability to store and move capital, to make cross-border payments, to preserve the value of.
But those use cases are limited when there are security concerns.
“To scale this technology globally, you need interoperability and basic trust security,” he summed up in his remarks.”
We note that Mastercard has begun to build a technology base for developing crypto-payments.
The partners from Aptos Labs, Ava Labs, Polygon and The Solana Foundation are helping them do just that.