Advancing blockchain adoption by the general public is certainly one of Mastercard’s priorities. The global payment services giant is banking on it to ensure its presence in the crypto ecosystem in the medium and long term.
Blockchain adoption bolstered by Mastercard’s multi-token network?
Payments company Mastercard thinks its recently launched Multi-Token Network (MTN) has potential. That of stimulating and increasing the adoption of blockchain on a larger scale.
In a recent interview, Jorn Lambert, Mastercard’s director of digital services, explained the reasons for this projection. According to him, the actual exploitation of the blockchain is still very low.
In this context, the executive does not see this technology winning over more users despite the efforts made in this direction. According to him, the situation could remain as such “until there is the possibility of developing financially regulated applications” and blockchain-based.
This is what Mastercard’s MTN network wants to participate in. For Lambert, this is a solution which, thanks to its intrinsic qualities, offers immense prospects for currencies “commercial banking in the blockchain”.
One of the benefits of Mastercard’s MTN network, says Lambert, is the increased scalability it offers. A significant barrier for Tier 1 blockchains, which the network is designed to remove. The same is true for interoperability and security related to ecosystems of digital assets and blockchains.
Mastercard is also counting on the concretization of its efforts centered on Web 3.0. Recently, in fact, we saw the company partner with the Stables crypto platform. The ambition of this collaboration is clear: to launch what will be the first wallet in the world, exclusively dedicated to stablecoins.
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