Mastercard launches cryptocurrency credentialing program
Mastercard has officially been launched. that Cryptocurrency Credential Peer-to-Peer Pilot Program; We aim to simplify cryptocurrency trading and reduce user errors.
Mastercard’s new system Assign a human-readable alias to the individual. Certified by Mastercard. This eliminates the need for users to deal with long and complex wallet addresses traditionally used for cryptocurrency transactions.
This program also Prevent financial losses through pre-screening of transactions, It ensures that users do not send incompatible crypto assets to the wrong address.
Did you know?
Do you want to become smarter and richer with cryptocurrency?
Subscribe – We post new cryptocurrency explainer videos every week!
This trading ability is It is available on Bit2Me, Lirium and Mercado cryptocurrency exchanges, as well as wallet provider FoxBit. Users can access it in a variety of ways. Latin American and European countries.
Walter Pimenta, Vice President of Products and Engineering for Latin America at Mastercard, said:
As interest in blockchain and digital assets continues to surge in Latin America and around the world, it is important to continue providing trusted and verifiable interactions across public blockchain networks.
Cryptocurrencies have suffered from user experience and interface issues for years. It intimidates inexperienced users with its complexity. Cryptocurrency analyst Miles Deutscher points out that 2022 is driving widespread adoption, highlighting these issues.
However, although the plan to simplify cryptocurrency trading is promising, Raising concerns about centralization, That’s because the program’s reliance on Mastercard to verify identity and block transactions contradicts the decentralized spirit of cryptocurrency.
Nonetheless, Mastercard’s introduction of cryptocurrency credentials represents a step toward simplifying the cryptocurrency experience.
Recently, Mastercard introduced another significant cryptocurrency innovation by partnering with 1inch Network and Crypto Life to launch a cryptocurrency debit card.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
With nearly 10 years of experience in the fintech industry, Aaron understands all of the biggest issues and challenges cryptocurrency enthusiasts face. He is a passionate analyst with an interest in data-driven and fact-based content, as well as content targeting both Web3 native users and industry newcomers.
Aaron is our go-to guy for all things digital currency. With a huge passion for blockchain and Web3 education, Aaron is working to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been quoted in several popular media outlets and is a published author himself. In his spare time, he enjoys researching market trends and looking for the next supernova.
