{"id":81221,"date":"2023-07-04T16:48:23","date_gmt":"2023-07-04T13:48:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81221"},"modified":"2025-09-11T21:35:01","modified_gmt":"2025-09-11T18:35:01","slug":"mastercard-backs-integration-of-blockchain-and-traditional-finance","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mastercard-backs-integration-of-blockchain-and-traditional-finance\/","title":{"rendered":"Mastercard backs integration of blockchain and traditional finance"},"content":{"rendered":"<p>Mastercard&#8217;s Chief Digital Officer Jorn Lambert <a href=\\\"https:\/\/www.pymnts.com\/blockchain\/2023\/mastercard-says-value-of-blockchain-tech-in-payments-has-yet-to-be-unlocked\/\\\">says<\/a> it is necessary to unite blockchain and traditional finance.<\/p>\n<p>In his view, this would facilitate the mass adoption of distributed ledger technology, addressing the trust deficit in the industry.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>\u00abTo scale, you need to move existing regulated money, backed by central banks, into blockchain. This has not yet been done\u00bb, Lambert said.<\/cite><\/p><\/blockquote>\n<p>He proposed using tokenized deposits as one of the safe ways to transfer assets of commercial banks into a digital form.<\/p>\n<p>In his view, uniting blockchain with the traditional financial system is currently impossible due to the lack of \u201ca basis for operating in a secure environment\u201d.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>\u00ab[Any solution for digital assets] must be real-world compatible and interoperable across different blockchains [&#8230;]. And if something goes wrong, you need rules to resolve these problems\u00bb, Lambert said.<\/cite><\/p><\/blockquote>\n<p>The executive said that blockchain could simplify cross-border payments, trade and insurance through asset tokenization and programmability of transactions.<\/p>\n<p>Lambert added that <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a> would not help solve the existing trust problem, noting that they have scalability issues.<\/p>\n<p>Earlier Mastercard<a href=\"https:\/\/u1f987.com\/en\/news\/mastercard-to-pilot-tokenized-bank-deposits\">announced<\/a> pilot testing of tokenized deposits using the Multi-Token Network.<\/p>\n<p>In October 2022 it<a href=\"https:\/\/u1f987.com\/en\/news\/mastercard-to-provide-banks-with-tools-to-access-cryptocurrencies\">reported<\/a> plans to act as an intermediary for traditional financial institutions in launching cryptocurrency trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mastercard&#8217;s Chief Digital Officer Jorn Lambert says that uniting blockchain and traditional finance is necessary.<\/p>\n","protected":false},"author":1,"featured_media":81222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[25,70],"class_list":["post-81221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain","tag-mastercard"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81221"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81221\/revisions"}],"predecessor-version":[{"id":81223,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81221\/revisions\/81223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81222"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}