Casting – The CFO of MasterCard talks about coffee, cryptocurrencies, stablecoinsand central bank digital currency (MNBC), to describe the appropriate role that each electronic currency could play.
MasterCard’s Web3 projects
The borders seem rather well drawn. MasterCard announced its plans to develop products related to cryptocurrencies, in three areas: cryptocurrenciesstablecoins, and central bank digital currencies.
The company’s financial director, Sachin Mehraits Express recently in an interview with Bloomberg. He then explained the company’s role in cryptocurrency, and his vision for the function of each of these digital currenciesin the broad sense of the term.
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An asset class, not a means of payment
MasterCard today plays the role of “on-ramp” and “exit ramp” for cryptocurrencies. It makes it easy for their customers to buy it, and use it through the payments giant’s global network.
Despite these efforts by the company in favor of the sector, Sachin Mehra believes that cryptocurrencies are an asset classand would not currently be suitable for payments for daily purchases, given their volatility.
Stablecoins and MNBCs for shopping
The taste of a coffee regulated in Bitcoin (BTC) would change daily, as would the price of cryptocurrency. Consumers can hardly conceive ” that your Starbucks coffee today costs you $3, tomorrow it will cost you $9, and the next day it will cost you $1”.
If cryptocurrencies cannot therefore be considered as means of payment, stablecoins and central bank digital currencies could, for their part, take on this roleselon Sachin Mehra.
The volatility of a cryptocurrency is often mentioned to sing the same refrain: Bitcoin is an asset and not a currency. The choice of certain large companies, however, tends to invalidate this presupposition.perhaps mistakenly taken by some, for granted.
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