Speaking during an online event hosted by smart contracts platform Avalanche, Mastercard’s VP for new product development and innovation Harold Bossé said the integration of cryptocurrencies into existing systems would be key to helping them go mainstream.
“[Crypto] has to become invisible,” he said. “I keep saying that and I sound like a broken record, but it has to disappear in the background for a user who doesn’t care — honestly, my mom doesn’t care if it’s [centralized finance] or DeFi.”
To get more financial institutions into the space, he added, the crypto community needs to break out of its bubble and convince demographics who aren’t currently interested in digital assets of their utility.
Turning to subnets to make crypto simpler
While discussing Avalanche’s subnets product, application-specific blockchain networks that lets developers and organizations create customized blockchains, Bossé said that businesses using blockchain solutions should strive to make them imperceptible to the user.
“The complexity of the technology has to disappear,” he said. “In the endgame, we should have these subnets being operated just like the internet is operated today.”
As for the price of Avalanche’s native token, AVAX, it’s had a tough week. The native token has fallen more than 14% over the past seven days, according to CoinMarketCap.
It is currently trading at $28.59.
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