Mastercard has detailed its latest findings regarding non-fungible tokens (NFTs) following its participation in Australia’s central bank digital currency (CBDC) pilot project.
“It also unlocks new opportunities for collaboration between the public and private networks to drive genuine impact in the digital currency space,” the statement outlined.
Mastercard’s New Findings In CBDC Pilot
In a recent statement, Mastercard claims that it has found new capabilities that allow for the tokenization of CBDCs across various blockchains. The payment giant believes this, in turn, expands the potential for increased adoption and enhanced security:
“It has successfully demonstrated capabilities of a new solution that enables CBDCs to be tokenised (or “wrapped”) onto different blockchains, providing consumers with a new option to participate in commerce across multiple blockchains with increased security and ease.”
Zack Burks, CEO and Founder of Mintable, in conjunction with Mastercard, has recognized a potential association between NFTs and CBDCs:
“The vast potential of NFTs was obvious during this progressive CBDC pilot. Together with Mastercard, we have identified a use case whereby digital currencies and NFTs can easily be linked.”
Doubts Arise About CBDC’s Popularity
Burks noted that the link between the two could potentially eliminate fraud and theft. He further explains this could pre
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Author: Ciaran Lyons
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