Trust in Tech Has Eroded: Here Are 3 Ways To Rebuild It

Rhea-AI Summary

Mastercard emphasizes the importance of trust in integrating blockchain technology within the financial system. In a recent statement, the Mastercard Center for Inclusive Growth highlighted the necessity for stronger regulations to foster this trust. The organization advocates for enhanced collaborations between crypto and traditional financial sectors, leveraging existing frameworks for risk management and governance to establish robust standards for the emerging crypto industry.

Positive

• Advocacy for stronger regulations to build trust in the blockchain technology.
• Emphasis on collaboration between crypto and traditional finance for improved risk management.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / January 12, 2023 / The Mastercard Center for Inclusive Growth

Originally published by World Economic Forum on weforum.org

My company, like many others, believes that there's great promise in blockchain technology to build more efficient financial instruments and payments systems. But none of it is possible without trust first.

Stronger regulations will go a long way to building that trust. Also, businesses need to partner more closely across crypto and traditional finance. Existing financial institutions and financial services companies are experts in risk management, anti-money laundering regulations and corporate governance protocols. Bringing more of that knowledge into crypto will provide much-needed standards and controls for the young industry.

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Here are 3 ways to restore trust in tech and create a digital economy that's safer, smarter and more inclusive. Image courtesy of WEF/iStockphoto

View additional multimedia and more ESG storytelling from The Mastercard Center for Inclusive Growth on 3blmedia.com.

Contact Info:
Spokesperson: The Mastercard Center for Inclusive Growth
Website: https://www.3blmedia.com/profiles/mastercard-center-inclusive-growth
Email: info@3blmedia.com

SOURCE: The Mastercard Center for Inclusive Growth

View source version on accesswire.com:
https://www.accesswire.com/735031/Trust-in-Tech-Has-Eroded-Here-Are-3-Ways-To-Rebuild-It

FAQ

What recent statements did Mastercard make about blockchain technology?

Mastercard emphasized the need for stronger regulations and collaboration between crypto and traditional finance to build trust in blockchain technology.

How does Mastercard propose to enhance trust in digital finance?

Mastercard suggests stronger regulations and partnerships across crypto and traditional finance to establish necessary standards and controls.

What is the key focus of the Mastercard Center for Inclusive Growth?

The key focus is to advocate for trust in technology and promote a safer, smarter, and more inclusive digital economy.