Mastercard to enable Crypto payments in Web3 via USDC
It has been observed that during the bear market, we can see more crypto adoption. It is because when the market is doing good then most of us are busy making money and this is why the adoption and development are slow. But when the market is not doing really well then those people spend more time on development and bringing more innovation to the place which is good for the industry to grow further.
We can see a lot of updates about the adoption and development in the Crypto space which I think is good. We do not know when we are going to see the woolen and it can take a few years but to be honest it is very difficult to predict. Some big technology companies are working on the blockchain already and even leading payment companies are the ones exploring possibilities and developing the infrastructure.
MasterCard which is a leading payment company across the world has taken a lead and now they are going to enable the trip to payments in wave 3 through usdc. I think that this is going to be a big move and it can create a lot of people think about joining web 3. People believe in MasterCard because it is an urgent company in payments and this kind of collaboration with a trusted brand will bring more adoption in web3 wallets.
A partnership between Web3 payment protocol Immersve and payments giant Mastercard will allow users to make crypto payments on digital, physical, and the metaverse worlds. Once the transaction is successful from the user’s end, USD Coin tokens — a United States dollar-backed stablecoin issued by Circle — will get converted to fiat and be used to settle transactions on Mastercard’s network.
Web 3 is the new face of the internet and these days lot of people are talking about it because Web 2 is not satisfactory anymore. It is because the companies are trying to on the content as well as they are not giving the authority to the users which is why they are thinking of switching to another option that is only web 3 as of now. This is decentralized and gives the entire control to the hand of users so there are no technology companies involved that can control or manipulate the information.
Now when such giant companies are coming forward to facilitate payment in web 3 wallets is certainly a great move. I expect that there will be much more development in this segment and we are going to see a lot here in the coming years. I just hope that the countries that are not in favor of cryptocurrency also accept the change.
Crypto is here to stay and the future is going to be exciting so now is the best time to enter and start planning for a better future with the new way of the Internet and this revolution that is called blockchain and cryptocurrencies.
Thank you
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As a reader of this blog, I find the discussion on the relationship between market conditions and crypto adoption quite interesting. It is true that during bear markets, people tend to focus more on development and innovation rather than just making money. This can be a good thing for the industry as it can lead to the creation of more useful and practical applications for cryptocurrencies.
I also appreciate the mention of some big technology companies and payment companies that are already exploring the possibilities of blockchain technology. The collaboration between MasterCard and USDC, for example, is a great development and can potentially bring more people into the world of Web 3 wallets.
Overall, this blog provides some useful insights into the current state of the crypto market and the potential for further growth and adoption in the future. It would be interesting to see more discussion on how regulation and government policies can also impact the industry, as these factors can have a significant impact on the market as well.
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