Foresight News reports that Ashok Venkateswaran, the Asia-Pacific head of Mastercard’s Blockchain and Digital Assets, discussed the value of programmability as a kind of trust at the Hong Kong Fintech Week discussion. He highlighted the advantages for banks, regulators, and individual users, noting that banks can utilize programmability to automate some procedures, thereby lowering manual handling and guaranteeing client protection, and regulators can use it to establish rules for tokens.
As part of a pilot program in Cyberport, Venkateswaran also disclosed that Mastercard is testing the usage of non-fungible token (NFT) certificates on genuine luxury watches. Customers are protected since only authentic products may be successfully traded by utilizing the programmability of digital Cyberport dollars.
