During a blockchain-focused panel at Mastercard’s North America Innovation Day, the company’s EVP and head of crypto and blockchain, Raj Dhamodharan, stated that crypto and blockchain technology can bring more value to financial industries if they can solve the issues of security and simplicity. Dhamodharan believes that instilling trust in the blockchain ecosystem is a critical step in realizing its full potential. Once these issues are resolved, brands and companies would become more confident about engaging with the web3 industry. Mastercard has been steadily expanding its repertoire of crypto services by partnering with various industry players over the years and is heavily involved in helping governments figure out central bank digital currencies and the underlying payments infrastructure.