Overview of Global Impact Week
Global Impact Week is creating quite the buzz in Valencia, Spain, as it brings together visionary minds from finance, policy, climate, healthcare, and media innovations. Running from December 14 to 18, the event has reportedly attracted a whopping 100,000 attendees, featuring over 500 speakers and 150 live sessions. It’s basically a mash-up conference where everyone puts on their superhero capes to save the world, albeit with a hint of Spanish tapas.
Focus on Fintech Innovations
Cointelegraph’s Editor-in-Chief, Kristina Cornèr, has been part of the action, moderating a captivating panel discussion on how fintech is shaping the future. The panel, titled “Fireside Chat: Fintech Defining the Future”, featured insights from Liza Oakes, Mastercard’s executive vice president of market development.
Crypto-Funded Payment Cards
During their chat, the spotlight shone on Mastercard’s recent move to launch crypto-funded payments cards. Kristina questioned how Liza foresees this new opportunity evolving.
Liza Oakes: “We started the service in fiat money… figuring out a gateway from fiat into crypto safely.”
Now that’s a clever way to dance in both currency worlds! The goal here is to create a bridge for people to safely navigate from traditional money to the thrilling, yet turbulent, waters of cryptocurrencies.
Future Developments in Finance
Kristina also probed Liza about other innovations up Mastercard’s sleeve, like non-fungible tokens (NFTs) and payments in the Metaverse—where your virtual wallet might be the new carrier of a Starbucks order!
Liza Oakes: “Personally, I’m fascinated by NFTs, but… there’s an enormous security challenge.”
Looks like even in the pixelated universe, security is still the name of the game—can’t have anyone stealing your virtual art collection!
Financial Inclusion and the Future
The topic then pivoted to the elephant in the room: financial inclusion. Liza pointed out significant statistics regarding crypto participation globally:
Liza Oakes: “I read that 1% to 2% of the entire population has participated in crypto.”
So, there’s room for improvement, and for those of us who have yet to dive in, it’s evident the crypto world needs a welcoming committee. The good news? There’s ample opportunity to bridge that gap!
Final Thoughts from the Panel
In summary, Global Impact Week is not only a platform for innovation but also a pragmatic look at how technology can lead us into the future. Whether it’s crypto cards or dreams of vibrant Metaverse shopping sprees, the potential for growth—and the challenges it poses—leave us all craving more knowledge and insight. Valencia is certainly buzzing with ideas, and it will be thrilling to see how the trends evolve when the event wraps up!
