Mastercard’s vice president of new product development and innovation is confident that crypto technologies need to be simplified in order to achieve their mass adoption by society.
Harold Bosse spoke at an online conference hosted by the Avalanche smart contract platform, where he stated that the integration of digital currencies into existing systems will play a key role in the promotion of digital assets:
“I say this all the time, so I sound like a broken record, but I will say it again: cryptocurrencies must become invisible, they must disappear and work for users in the background. The average user doesn’t care how the systems that allow him to transfer or receive his money work – through centralized financing or decentralized.”
Significant growth will be achieved by those companies that can integrate DeFi products into their existing offerings without customers noticing, according to a representative of the international payment system. One of the main obstacles to the successful implementation of new technologies is the lack of knowledge of the top management of companies about the crypto industry and blockchain.
The success of the industry, says Harold Bosse, will depend on trust in digital assets – no one will use cryptocurrencies and blockchain unless people have absolute confidence in the reliability. In order to attract more companies and financial institutions to the industry, the crypto community needs to break out of its bubble and convince the main social and demographic groups of the planet that are not interested in digital assets of the usefulness of technology.
“Complexity should disappear. Ultimately, we need to make sure that these subnets work the way the Internet works today,” said the vice president of Mastercard.
Earlier, cryptocurrency lending platform Nexo announced that it had entered into a partnership with Mastercard to issue cards with which customers would be able to take loans backed by cryptocurrencies.
Source: Bits
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