www.cointrust.com Open in urlscan Pro
74.208.25.172  Public Scan

Form analysis
1 forms found in the DOM

GET https://www.cointrust.com/

<form method="get" id="searchform" action="https://www.cointrust.com/">
  <input type="text" name="s" id="s" value="Type Search term and press enter" onfocus="if (this.value == &quot;Type Search term and press enter&quot;) { this.value = &quot;&quot;; }"
    onblur="if (this.value == &quot;&quot;) { this.value = &quot;Type Search term and press enter&quot;; }">
  <input type="hidden" id="search-button">
</form>

Text Content

Check Live Rates
BTC
ETH
BCH
DASH
 * Bitcoin
 * Ethereum
 * Ripple

 * News
 * Bitcoin
 * Ethereum
 * Altcoin
 * Market Cap
 * Learn
    * Buying Crypto
    * Crypto Mining
    * Crypto Exchanges
    * Knowledge

 * News
 * Bitcoin
 * Ethereum
 * Altcoin
 * Market Cap
 * Learn
   * Buying Crypto
   * Crypto Mining
   * Crypto Exchanges
   * Knowledge

HomeMarket News , News

MASTERCARD’S SOLUTION PAVES THE WAY FOR CROSS-BLOCKCHAIN CBDC TRANSACTIONS

Mastercard’s Solution Paves the Way for Cross-Blockchain CBDC Transactions
October 12, 2023 October 12, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 12, 2023 by Kelly Cromley


MASTERCARD’S SOLUTION PAVES THE WAY FOR CROSS-BLOCKCHAIN CBDC TRANSACTIONS

Mastercard has achieved a significant milestone by successfully showcasing a
groundbreaking solution capable of tokenizing Central Bank Digital Currencies
(CBDCs) across different blockchains. The primary objective behind this
innovation is to provide consumers with the ability to engage in commerce across
multiple blockchains, all while ensuring enhanced security measures.

 


COLLABORATIVE DEVELOPMENT:

 

This remarkable solution is the result of a collaborative effort between
Mastercard, Cuscal, and Mintable. It forms a crucial component of a research
project initiated by the Reserve Bank of Australia (RBA) and the Digital Finance
Cooperative Research Centre (DFCRC). The primary aim of this endeavor is to
explore potential use cases for a CBDC within the Australian context. Part of
this exploration involves implementing stringent controls to ensure that the
pilot CBDC can only be held, utilized, and redeemed by authorized entities who
have undergone Know Your Customer (KYC) verification and risk assessments,
carried out by licensed service providers.

 


UNLOCKING COMMERCE ACROSS MULTIPLE BLOCKCHAINS:

 

Richard Wormald, Division President, Australasia at Mastercard, explained the
motivation behind this pioneering solution, emphasizing the growing demand from
consumers to engage in commerce across a range of blockchains, including public
ones. He further highlighted the potential for this technology to expand
consumer choice and foster collaboration between public and private networks,
ultimately making a significant impact in the digital currency space.

 


A LIVE DEMONSTRATION OF THE SOLUTION:

 

Mastercard effectively demonstrated the capabilities of this solution in a live
environment. It illustrated how a holder of a pilot CBDC could seamlessly
purchase a Non-Fungible Token (NFT) listed on the Ethereum public blockchain.
The process involved “locking” the required amount of the pilot CBDC within the
RBA’s pilot CBDC platform and subsequently minting an equivalent amount of
wrapped pilot CBDC tokens on the Ethereum blockchain.

 


STRINGENT PLATFORM CONTROLS:

 

A critical aspect of this test transaction was the requirement for the Ethereum
wallets of both the buyer and seller, along with the NFT marketplace smart
contract, to be ‘allow-listed’ within the platform. This meticulous approach
ensured that all other transfers of the wrapped pilot CBDC remained blocked.
Importantly, this demonstration underscored the platform’s capability to
implement stringent controls, a feature that extends to public blockchains as
well.

 


LEVERAGING MASTERCARD’S MULTI TOKEN NETWORK:

 

This successful pilot transaction drew on the strengths of Mastercard’s Multi
Token Network, which was introduced in June 2023. This innovative network
comprises two fundamental pillars. The first is Mastercard Crypto Credential, a
component that establishes a common set of verification standards and
infrastructure. This is designed to facilitate secure interactions using
blockchain networks. The second pillar is interoperability, which ensures the
extension of capabilities across various supported payment tokens and networks
in a scalable and efficient manner.

 


CONCLUSION:

 

Mastercard’s pioneering solution, allowing for the tokenization of CBDCs across
diverse blockchains, is a significant step forward in the world of digital
currencies. By enabling cross-blockchain CBDC transactions and implementing
stringent controls, it not only enhances security but also opens up a world of
possibilities for consumers and stakeholders in the digital currency space. This
innovation aligns with the evolving landscape of the digital economy, where
consumers are seeking increased choice and flexibility in their transactions. It
also signifies the potential for productive collaboration between public and
private networks, ultimately contributing to the continued growth and
development of digital currencies and blockchain technology.

Contact Me

AUTHORKELLY CROMLEY

Kelly is our in house crytpto researcher, delving into the stories which matter
from blockchains being used in the real world to new ico coming out.




POST NAVIGATION

<< Upland Celebrates Third Year of NFL Player Collaborations in the Metaverse
>> Sandbox Group Partners with XDB Chain to Launch Exclusive Branded
Cryptocurrency



RELATED NEWS ARTICLES


Q2 AND NYDIG ROLL OUT BITCOIN TRADING PLATFORM FOR BANKS AND CREDIT UNIONS

October 24, 2021 by Kelly Cromley


GENIUS YIELD PARTNERS CARDANO BLOCKCHAIN POWERED WORLD MOBILE TOKEN FOR FUELING
DEFI ADOPTION

August 13, 2022 by Kelly Cromley


KOREAN TELECOM FIRM KT TO LAUNCH BLOCKCHAIN-AS-A-SERVICE PLATFORM

February 21, 2019 by Kelly Cromley


BINANCE STARTS OFFERING EUROPEAN-STYLE BITCOIN OPTIONS CONTRACTS

December 28, 2020 by Kelly Cromley



CATEGORIES

 * Altcoin News
 * Analysis News
 * Bitcoin News
 * Blog
 * Ethereum News
 * ICO News
 * Legislation News
 * Market News
 * News
 * Ripple News


LATEST NEWS

 * Aug 15, 2023
   
   ZYNGA UNVEILS BLOCKCHAIN GAME “SUGARTOWN” WITH ETHEREUM NFTS

 * Jun 27, 2022
   
   ZUCKERBERG PLANS METAVERSE CENTERED DIGITAL WALLET

 * Jun 25, 2022
   
   ZUCKERBERG ENVISIONS METAVERSE OF HAVING ACTIVE COMMUNITY OF ONE BILLION SOON

 * Sep 8, 2023
   
   ZTX’S RECORD-BREAKING GENESIS HOMES NFT SALE SIGNALS METAVERSE ENTHUSIASM

 * Aug 24, 2023
   
   ZTX VENTURES INTO CREATING 3D VIRTUAL WORLD ON ARBITRUM BLOCKCHAIN

 * Aug 25, 2023
   
   ZTX UNVEILS GENESIS HOME MINT IN COLLABORATION WITH OPENSEA, REVOLUTIONIZING
   NFT ECOSYSTEM

 * Aug 30, 2023
   
   ZTX PROJECT DRAWS OVER 200,000 NEW USERS IN A DAY WITH WEB2 TO WEB3
   TRANSITION

 * Jan 19, 2022
   
   ZORROSIGN TO INTEGRATE ITS DIGITAL PLATFORM WITH DECENTRALIZED PROVENANCE
   BLOCKCHAIN

 * Oct 10, 2023
   
   ZORROSIGN INTEGRATES WITH PROVENANCE BLOCKCHAIN FOR ENHANCED DATA SECURITY

 * May 8, 2020
   
   ZOOM TAKES OVER ENCRYPTION FIRM KEYBASE TO ENSURE PRIVACY, SECURITY

View All


POST ARCHIVES

 * October 2023 (154)
 * September 2023 (202)
 * August 2023 (206)
 * July 2023 (156)
 * June 2023 (105)
 * May 2023 (113)
 * April 2023 (106)
 * March 2023 (104)
 * February 2023 (95)
 * January 2023 (99)
 * December 2022 (106)
 * November 2022 (97)
 * October 2022 (98)
 * September 2022 (96)
 * August 2022 (103)
 * July 2022 (99)
 * June 2022 (97)
 * May 2022 (82)
 * April 2022 (81)
 * March 2022 (80)
 * February 2022 (100)
 * January 2022 (105)
 * December 2021 (160)
 * November 2021 (196)
 * October 2021 (152)
 * September 2021 (124)
 * August 2021 (98)
 * July 2021 (90)
 * June 2021 (83)
 * May 2021 (82)
 * April 2021 (79)
 * March 2021 (80)
 * February 2021 (76)
 * January 2021 (82)
 * December 2020 (88)
 * November 2020 (73)
 * October 2020 (83)
 * September 2020 (75)
 * August 2020 (81)
 * July 2020 (84)
 * June 2020 (81)
 * May 2020 (81)
 * April 2020 (74)
 * March 2020 (79)
 * February 2020 (55)
 * January 2020 (74)
 * December 2019 (77)
 * November 2019 (80)
 * October 2019 (84)
 * September 2019 (85)
 * August 2019 (85)
 * July 2019 (80)
 * June 2019 (68)
 * May 2019 (78)
 * April 2019 (78)
 * March 2019 (80)
 * February 2019 (85)
 * January 2019 (116)
 * December 2018 (120)
 * November 2018 (108)
 * October 2018 (104)
 * September 2018 (97)
 * August 2018 (140)
 * July 2018 (142)
 * June 2018 (95)
 * May 2018 (91)
 * April 2018 (72)
 * March 2018 (46)
 * January 2018 (12)


ICO CALENDAR


CRYPTO EXCHANGES

 * 24Option
   
   102 user ratings
 * Binance
   
   103 user ratings
 * Coinbase
   
   107 user ratings
 * Cryptopia
   
   108 user ratings
 * eToro
   
   110 user ratings

View All


TRENDING NEWS

 * Oct 23, 2023
   
   OKX WALLET INTEGRATES WITH NABOX AND ZNS CONNECT FOR SEAMLESS CROSS-CHAIN
   ASSET MANAGEMENT

 * Oct 22, 2023
   
   STPI’S APIARY CENTER OF ENTREPRENEURSHIP FUELS BLOCKCHAIN INNOVATION

 * Oct 22, 2023
   
   CHANGENOW REVOLUTIONIZES WEB3 LIQUIDITY ACCESS IN 2023

 * Oct 21, 2023
   
   COZ UNVEILS BOA V1.1.0: A LEAP FORWARD IN SMART CONTRACT DEVELOPMENT

 * Oct 21, 2023
   
   POLYGON’S PROTOCOL COUNCIL: CHARTING A NEW COURSE FOR BLOCKCHAIN EVOLUTION

 * Oct 21, 2023
   
   INVOICEMATE TRANSITIONS TO INTERNET COMPUTER BLOCKCHAIN IN COLLABORATION WITH
   DFINITY FOUNDATION

 * Oct 21, 2023
   
   INSOMNIA LABS LAUNCHES ‘LOYALTY+’ PROGRAM, PIONEERING WEB3 LOYALTY

 * Oct 20, 2023
   
   DEUTSCHE TELEKOM MMS AND MULTIVERSX FORGE WEB3 PARTNERSHIP

 * Oct 20, 2023
   
   MULTIVERSX AND GOOGLE CLOUD JOIN FORCES TO DRIVE WEB3 AND AI INTEGRATION

 * Oct 20, 2023
   
   HAVAH AND SOLANA COLLABORATE FOR BLOCKCHAIN INNOVATION

View All




COINTRUST

 * About Us
 * Contact Us
 * Correction Request
 * Our Team
 * Submit ICO


LEGAL

 * Disclaimer
 * Terms & Conditions
 * Privacy Policy
 * Cookie Policy


POPULAR

 * ICO Listings
 * Knowledge Base
 * All about Mining
 * Cryptocurrency Exchanges
 * How and Where to buy Cryptocurrency


SITEMAP

 * News section
 * Sitemap
 * XML Sitemap

* DISCLAIMER: All information provided in CoinTrust is merely for informational
purposes, we are not an investment advisor and not affiliated with any companies
or ICO/Cryptocurrency Projects. To use this website you must accept our cookie
policy, Disclaimer and Privacy Policies.

 * 
 * 
 * 
 * 
 * 
 * 

© 2018. CoinTrust.com

* DISCLAIMER: All information provided in CoinTrust is merely for informational
purposes, we are not an investment advisor and not affiliated with any companies
or ICO/Cryptocurrency Projects. To use this website you must accept our cookie
policy, Disclaimer and Privacy Policies.