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Sachin Mehra’s belief shows that cryptocurrency’s nature is too volatile for its use-case as a payment tool. While the CBDCs (Central Bank Digital Currencies) and stablecoins are better suggested in this.
Over the past few years, major crypto firms have shown interest in the active crypto trade. The firms introduce digital assets into their platform, which ease the user with the digital asset solutions.
In a recent interview with the Bloomberg news agency, Sachin said, “If you think about it globally, there’s still a ton of cash which remains to be electronified.”
And in continuation of his words, he also stated, “If something fluctuates in value every day, such that your Starbucks coffee today costs you $3 and tomorrow it’s going to cost you $9, and the day after it’s going to cost you a dollar, that’s a problem; from a consumer-mindset standpoint.”
The global head of crypto and blockchain of Mastercard, Raj Dhamodharan, also said, “Bitcoin is not just about the currency. It’s also about the chain. It’s also about the cryptology behind it and the decentralisation and all that.”
Dhamodharan also mentions NFTs as a “great invention” and the “next mature investment asset class” after the digital currencies. In his words, digital currencies do not harm investors “at all.”
However, he added that digital currencies are a “package of multiple technologies” that makes them unique. And from the investor’s point of view, this can be considered “probably the most mature” investment tool.
The belief of Mastercard’s CFO in digital currencies also shows the volatility of cryptocurrencies. The crypto comes under asset grade, but the CBDCs or stablecoins “potentially have a little bit more runaway.”
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