Payment giant Mastercard has revealed in an online survey that more people are considering using digital currency for payments for goods and services.
40% plan to use Crypto next year – Mastercard
The company had surveyed 15,569 consumers in 18 countries, and 40% of that group planned to use cryptography next year.
Millennials seem to be more interested in digital currencies.
67% said they were more open to using the technology than a year ago, 77% of this group want to learn more about them, while 75% are willing to use it if they understand it better.
The survey was conducted from February 26 to March 10, with consumers in four regions, including North America, Latin America and the Caribbean, the Middle East and Africa, and Asia-Pacific.
According to Mastercard, the Harris Poll and Mastercard research team contacted no fewer than 500 respondents in five of the 18 countries and at least 1,000 in the other 13.
In addition to digital currency, Mastercard also revealed that people also voted for their interest in biometric, contactless and QR codes as a means of payment.
According to the company, people are comfortable with emerging payment technologies and would support services that require them to use less physical cash.
With connections in more than 210 countries, Mastercard is certainly a global technology company in the payments industry. It was first founded 55 years ago in 1966 as an Interbank Card Association, but then switched to MasterCard in 1979.
MasterCard pushing the digital currency frontier
MasterCard has been contributing to the cryptography industry for some time. The payment company was one of the first companies to support digital currency in its payment network.
He recently signed a partnership with digital currency exchange Gemini to help launch his digital currency rewards credit card. The credit card would offer a cryptocurrency refund to Gemini customers every time they shop with it.
The payments network is also interested in helping governments achieve their CBDC goals. Last year, Mastercard launched a platform that allows central banks to analyze digital currencies. The platform was introduced to facilitate an environment in which fintech, banks and consumers can partner to issue, distribute and exchange digital currencies.
In early February, Mastercard partnered with the government of the Bahamas, which gave citizens the option to charge the country CBDC on a prepaid MasterCard.
Now, the company is studying the possibility of exploring smart contract technology in central bank digital currencies (CBDC).
MasterCard said it was examining how smart contracts can help central banks around the world develop digital cash and drive state-backed coinage. It is reportedly already in talks with China to explore wider cross-border use of the digital yuan. Mastercard is awaiting final approval of licenses to start the ground card business.
Jimmy has been following blockchain development for several years and is optimistic about its potential to democratize the financial system. When you’re not immersed in the daily events of the cryptographic scene, you may find yourself watching legal replacements or trying to beat your high Scrabble score.