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- Mastercard collaborates with seven blockchain and payment technology providers to explore potential and challenges of central bank digital currencies (CBDCs).
- The specific details of the partnership remain undisclosed, but the focus areas include security, privacy, interoperability, and innovation.
- Raj Dhamodharan, Mastercard's head of digital assets and blockchain, highlights the importance of these aspects in building a flourishing economy.
- CBDCs, distinct from cryptocurrencies, could use #blockchain #technology and are #digital versions of government-endorsed fiat currencies.
- Partners include Ripple, ConsenSys, Fluency, Giesecke+Devrient, Idemia, Consult Hyperion, and Fireblocks.
- Mastercard's history in CBDC innovation includes introducing a prepaid card for the Bahamas' first #CBDC and plans for a testbed for tokenized #bank deposits in the UK.
