Gus – Cryptocurrency Expert
Mastercard's Vice President of New Product Development and Innovation, Harold Bossé, is optimistic about the widespread use of investing in cryptocurrency and blockchain technologies. Bossé spoke at a blockchain webinar on May 24 and stated that millions of people are currently utilising cryptocurrency.
They are early adopters and new adopters, but we have shifted our focus to mainstream markets, which will be critical for financial institutions looking to enter the field. Bossé underlined the promise of cryptocurrency trading assets and blockchain technology, comparing it to the birth of the internet. "No one thought Amazon could even be an idea before the internet - you need the internet for Amazon to operate." He went on to say that the present market is similar in that it requires groups of individuals to invent before they can focus on business.
Bossé, on the other hand, acknowledged the industry's existing flaws. "It needs to go unnoticed." I know I keep repeating myself, but it has to fade into the background for users who don't care — honestly, my mother doesn't care if it's [centralised financing] or DeFi." Lack of senior management awareness, cost and speed, regulatory issues, and business logic regarding scalability, according to Bossé, are all preventing cryptocurrency investment from becoming mainstream. Once the industry overcomes these obstacles, Bossé believes that enterprises will be able to appropriately monetise activity and move beyond what is now being done.
On May 24, Bossé took part in an Avalanche webinar titled "Powering Business with Blockchain." Executives from Mastercard, Wirex, and Ava Labs participated in the 40-minute webinar. The future generation of technology, banking, and payments were among the subjects explored.
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