of insurance companies investing in blockchain technology

Payment network operator Mastercard processes more than one billion tokenised transactions weekly .

Pablo Fourez , Chief Digital Officer at Mastercard , says : “ Today , more than 30 % of Mastercard transactions worldwide are tokenised and we intend to continue scaling this rapidly .

“ By 2030 , we ’ re aiming to eliminate the need for manual card entry and onetime or static passwords , by ensuring that every online transaction across our network can be tokenised and authenticated .”

TITLE : CHIEF DIGITAL OFFICER COMPANY : MASTERCARD INDUSTRY : FINTECH LOCATION : USA

Pablo is a business executive with broad experience , including corporate and business unit strategy , business development , product management and development .

Cross-border innovation and payment systems Cross-border payment values are projected to increase from US $ 190tn in 2023 to US $ 290tn by 2030 .

Three primary vehicles drive tokenised cross-border payments , each with distinct advantages and limitations . Stablecoins – cryptocurrencies tied to stable assets like fiat currencies or government bonds – offer reduced fees and conversion costs with near real-time settlement .

However , challenges in maintaining full backing can lead to instability , as demonstrated by recent high-profile stablecoin failures .

Central bank digital currencies ( CBDCs ) provide enhanced transparency and streamlined transactions but remain experimental . These digital versions of fiat currencies raise potential privacy concerns and could unbalance the financial system .

Tokenised deposits , representing digital tokens of large-volume bank

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