Ripple and ConsenSys participate in Mastercard program to promote CBDC innovation
The payment processor has enlisted a range of market players in its quest for innovation and efficiency in a technology that 93% central banks are studying.
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Mastercard is forming a partnership program with seven leading blockchain and payment technology providers to "better understand the benefits and limitations" of central bank digital currencies (CBDCs), it announced on August 17.
Mastercard didn't share specific plans for the group, but it did mention many buzzwords in the CBDC sphere — security, privacy, interoperability, private sector, innovation, and efficiency, for example. Mastercard's Head of Digital Assets and Blockchain, Raj Dhamodharan, said in the statement:
"As we look to a digitally driven future, it will be essential that the value held as CBDCs is as easy to use as other forms of money."
The Mastercard program will bring together companies that have already contributed to the development of the CBDC in various ways. It will include Ripple, which recently introduced a dedicated CBDC platform, software company ConsenSys, which has worked on several CBDC projects, and tokenized asset solutions provider Fluency, which is involved in 23 CBDC projects. p>
Related: AI-based Mastercard tool to help banks fight fraud
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The payment processor has enlisted a range of market players in its quest for innovation and efficiency in a technology that 93% central banks are studying.
News
Join us on social networks
Mastercard is forming a partnership program with seven leading blockchain and payment technology providers to "better understand the benefits and limitations" of central bank digital currencies (CBDCs), it announced on August 17.
Mastercard didn't share specific plans for the group, but it did mention many buzzwords in the CBDC sphere — security, privacy, interoperability, private sector, innovation, and efficiency, for example. Mastercard's Head of Digital Assets and Blockchain, Raj Dhamodharan, said in the statement:
"As we look to a digitally driven future, it will be essential that the value held as CBDCs is as easy to use as other forms of money."
The Mastercard program will bring together companies that have already contributed to the development of the CBDC in various ways. It will include Ripple, which recently introduced a dedicated CBDC platform, software company ConsenSys, which has worked on several CBDC projects, and tokenized asset solutions provider Fluency, which is involved in 23 CBDC projects. p>
Related: AI-based Mastercard tool to help banks fight fraud
P...
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