{"id":6638,"date":"2023-05-01T09:07:01","date_gmt":"2023-05-01T09:07:01","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/01\/so-long-scammers-mastercards-web3-solution-puts-fraudsters-on-notice\/"},"modified":"2023-05-01T09:07:01","modified_gmt":"2023-05-01T09:07:01","slug":"so-long-scammers-mastercards-web3-solution-puts-fraudsters-on-notice","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/01\/so-long-scammers-mastercards-web3-solution-puts-fraudsters-on-notice\/","title":{"rendered":"So Long Scammers! Mastercard&#8217;s Web3 Solution Puts Fraudsters on Notice"},"content":{"rendered":"<p><\/p>\n<div>\n<p>In an effort to combat fraudulent activities in the digital asset industry, Mastercard has recently unveiled a new Web3 solution. On April 29th Mastercard announced the \u201cMastercard Crypto Credential\u201d solution. Significantly, it is designed to improve user verification standards and limit the opportunities for scammers in the digital asset space. Furthermore, the solution provides a secure way for Web3 and blockchain service providers to verify transactions between users per Mastercard\u2019s standards. Let\u2019s dive in!<\/p>\n<figure id=\"attachment_103106\" aria-describedby=\"caption-attachment-103106\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103106\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1.png\" alt=\"Mastercard Web3\" width=\"1200\" height=\"675\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1.png 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-300x169.png 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-1024x576.png 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-768x432.png 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-100x56.png 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-150x84.png 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-450x253.png 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><figcaption id=\"caption-attachment-103106\" class=\"wp-caption-text\">Say Goodbye to Fraud: Mastercard Launches \u201cMastercard Crypto Credential\u201d Solution.<\/figcaption><\/figure>\n<h2><span id=\"Mastercards_Web3_Solution_The_Key_to_Unlocking_Digital_Asset_Security\">Mastercard\u2019s Web3 Solution: The Key to Unlocking Digital Asset Security<\/span><\/h2>\n<p>To improve digital asset security and minimize scammers\u2019 opportunities, Mastercard has launched a new Web3 solution called \u201cMastercard Crypto Credential.\u201d So, how will this work? As part of <a href=\"https:\/\/www.mastercard.com\/global\/en.html\" target=\"_blank\" rel=\"noopener\">the solution<\/a>, customers will receive a unique \u201cMastercard crypto credential identifier.\u201d Ultimately, this identifier will enable users to quickly confirm if they are sending funds to a verified address that adheres to Mastercard\u2019s guidelines.<\/p>\n<p>Mastercard designed the solution to facilitate compliance by exchanging essential metadata to meet regulations. If a scammer manages to obtain a unique identifier, Mastercard can quickly revoke their verification if they are found to be involved in illegal activities.<\/p>\n<h2><span id=\"Mastercards_growing_involvement_in_the_crypto_industry\">Mastercard\u2019s growing involvement in the crypto industry<\/span><\/h2>\n<p>Mastercard collaborated with several companies to develop their new Web3 solution. These include Bit2Me, Lirium, Mercado Bitcoin, and Uphold. Markedly, all of which provide cryptocurrency wallet services. The company also formed partnerships with Aptos Labs, Ava Labs, Polygon Labs, and The Solana Foundation to focus on blockchain technology.<\/p>\n<p>In addition, Mastercard plans to use CipherTrace\u2019s services. This includes CipherTrace Traveler to verify addresses and support Travel Rule compliance for cross-border transactions.<\/p>\n<p>Mastercard has been <a href=\"https:\/\/nftevening.com\/coinbase-mastercard-partnership-aims-to-classify-nfts-as-digital-goods\/\" target=\"_blank\" rel=\"noopener\">gradually increasing its involvement<\/a> in the cryptocurrency industry over the past few years. We can\u2019t wait to see what happens next!<\/p>\n<p>\u00a0<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\"><\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/so-long-scammers-mastercards-web3-solution-puts-fraudsters-on-notice\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an effort to combat fraudulent activities in the digital asset industry, Mastercard has recently unveiled a new Web3 solution. On April 29th Mastercard announced the \u201cMastercard Crypto Credential\u201d solution. Significantly, it is designed to improve user verification standards and limit the opportunities for scammers in the digital asset space. Furthermore, the solution provides a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Mastercard-1-1024x576.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6638"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=6638"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/6639"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=6638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=6638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=6638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}