Mastercard exec is bullish on crypto, sees mass adoption ‘sooner rather than later’

Despite the recent market correction in the developing technology space, both large and small companies are still optimistic.

Harold Boss, Mastercard's VP of new product development and innovation, said that mass adoption of the technology is going to happen sooner than later.

There are millions of individuals today consuming and sending digital assets around the world, Boss noted on a webinars on Tuesday.

There are a number of challenges that are preventing corporations from entering the market.

Boss said that no one will use digital assets unless they are sure that the money is good.

There have been a number of market factors dragging the industry down, including the downfall of TerraUSD and concerns about the regulation of the industry. If bigger players are going to get involved in the industry, there will be a deeper need for security.

“It has to become invisible. I keep saying that and I sound like a broken record, but it has to disappear into the background for users who don’t care — honestly, my mom doesn’t care if it’s [centralized finance] or DeFi.” Harold Bossé

Boss said that the truth is that businesses can be created by emerging technologies if they look at ideas that don't exist today.

He said that no one thought that Amazon could be a concept because they needed the internet to work.

That thought, along with another trillion-dollar question, was how the industry gets businesses to think about solving their problems in an innovative way through these new technologies, which enables them to charge for different services.

Boss said that they can monetize activity differently and go beyond what is happening today. It is about breaking out beyond the normal business expectations and building the community in what may be an uncomfortable zone for some.