Mastercard Launches the Start Path Digital Asset Plan to Accelerate Blockchain Innovation

On April 28, it was reported that Mastercard launched the Mastercard Start Path digital asset plan to expand innovative solutions and accelerate blockchain innovation. At present, six start-ups including Axelar, Cheeze, Coala Pay, Qonbay, RociFi Labs and Suberra have joined the plan. Through the Start Path digital asset plan, start-ups can receive customized training, access Mastercard channels, customers and subject matter experts, and have the opportunity to conduct technical cooperation.

Mastercard launches Start Path digital asset plan to accelerate blockchain innovation

Mastercard is a well-known name in the financial industry. Its newest initiative, the Mastercard Start Path digital asset plan, aims to propel innovative solutions in the world of blockchain. This program was launched on April 28, 2021, and already six start-ups have joined the scheme.

The Background of the Start Path Digital Asset Plan

The world is moving towards digitalization, and blockchain is becoming increasingly important in this trend. However, the use of cryptocurrencies and blockchain lacks proper regulation and infrastructure. To overcome these challenges, Mastercard has tried to create an environment where start-ups can explore the opportunities of blockchain.

The Goal of the Start Path Digital Asset Plan

The overarching goal of Mastercard’s Start Path digital asset plan is to nurture startups who can solve the problems that the industry faces. Mastercard believes that blockchain has a great potential to revolutionize financial transactions and that startups can help to unleash this potential.

The Scope of the Initiative

The Start Path digital asset plan provides customized training and expertise to the startups, and gives them access to Mastercard’s channel, customers, and subject matter experts. This initiative aims to extend the boundaries of blockchain innovation. By doing this, startups will have an opportunity to collaborate with Mastercard and other companies working on blockchain solutions worldwide.

The Six Startups Participating in the Scheme

Axelar, Cheeze, Coala Pay, Qonbay, RociFi Labs and Suberra have already joined the program. These six startups come from different regions and have breakthrough ideas in the field of blockchain.

Axelar

Axelar is a cross-chain communication platform that aims to eliminate blockchain’s isolation. It allows different blockchains to communicate and create an interconnected environment.

Cheeze

Cheeze is a decentralized image validation platform. Its main goal is to provide a trusted platform for content creators that allows them to monetize their content without any intermediaries.

Coala Pay

Coala Pay is a payment gateway that allows customers to send money anywhere in the world without intermediaries. This platform is powered by blockchain technology and eliminates the need for a third-party exchange.

Qonbay

Qonbay is a trading platform that uses blockchain technology to enable tokenization of assets, thereby creating a new asset class.

RociFi Labs

RociFi Labs is a peer-to-peer lending platform that uses blockchain technology to eliminate intermediaries from the traditional lending process.

Suberra

Suberra is a blockchain-based supply chain solution for sustainable sourcing. It tracks every step in the supply chain and helps traceability, thereby reducing carbon footprint and protecting biodiversity.

Conclusion

Mastercard’s Start Path digital asset plan is a positive step towards the development of blockchain technology. With the participation of six innovative start-ups, this initiative has great potential. Mastercard’s approach to nurture and collaborate with start-ups will undoubtedly lead to successful solutions to the problems faced by the blockchain and cryptocurrency industry.

FAQs

Q1. What is the Start Path digital asset plan?
The Start Path digital asset plan is Mastercard’s latest initiative to propel innovative solutions in the world of blockchain. It aims to create an environment where start-ups can flourish and develop blockchain technology.
Q2. How many startups are participating in this initiative?
There are six startups participating in this initiative. These startups come from different fields and regions and have breakthrough ideas in the field of blockchain.
Q3. What is the ultimate goal of this initiative?
The ultimate goal of the initiative is to solve the problems faced by the blockchain and cryptocurrency industry by collaborating with innovative startups. Startups are given customized training and access to Mastercard channels, customers, and subject matter experts to realize this goal.