Everyone talks about the “internet of things”, Artificial Intelligence (AI) and the metaverse, about how the future is so close in the use of digital currencies in technological banking (Fintech), but the important thing is to live the experience, feel trust and point to that change in culture that has already arrived.
You imagine yourself in front of a machine in which you offer your name and fictitious information and a digital payment card appears with which you order a coffee of the type you want, but the coffee comes with your face drawn, prior to taking a picture in the vending machine? Well, yes… this ease of payment without the need to carry a card or money is a real and possible experience.
Pyface is a new payment technology, unique in Brazil, whose facial recognition modality to pay for a service was exposed at the eleventh Mastercard Innovation Forum for Latin America and the Caribbean 2022. You can live the experience at @payface.com.
Another future experience is with the metaverse. A virtual shop in the metaverse allows you to change wall colors, furniture, move equipment and furniture, or whatever artifact is being observed.
It was a room of extensive technological demonstrations carried out at the Converge 2022 Mastercard Forum LAC Innovation, which took place from November 28 to 30 at the Fontaneiblue hotel, in Miami Beach, United States.
Experts participating in the forum insisted on the importance of regulations and governance to create trust mechanisms.
Technological advances have allowed creativity to increase and today many activities are driven by AI, basing their perspectives on the benefits of innovation through technologies to bring well-being to humanity.
A large hall of demos from various companies that have developed innovative technologies included the Shop Anywhere booth. A kind of locker to store things, macroeconomic analysis companies of the countries, with exclusive data; samples of how to do business through the WhatsApp application, in an organized way, and with the ease of entering a virtual world and moving around with “some glasses” and a screen, were part of the many experiences of the forum, in addition to the presentations of important personalities of that world.
digital currency
At least 14 countries in the Latin American and Caribbean region are already designing or considering the use of digital currencies in their economy. Experts recommend that regulations be strengthened and that a strong currency such as the dollar be backed up, in the case of Bitcoin or others.
For Walter Pimenta, a Mastercard executive, it is important to bring to the market solutions that have consumer protection principles, so that they do not invest in crypto assets and the company disappears. That is why it is vital that there is regulatory clarity between all players: regulators, card issuers, acquirers, merchants, and the entire chain.
Brazil is ahead of schedule and approved the crypto regulatory framework. Pimenta believes that the big issue in governments is how to define crypto rules.
He understands that in general they are involved with the governments of Latin America. There were 14 countries designing or thinking about their digital currencies. Currently, Argentina is the bravest market in the use of digital currencies with many investors in crypto assets.
In a document published by Mastercard, Pimenta specifies that although cryptocurrencies are gaining ground in the region as a means of payment, it is imperative to address issues of regulation and transparency.
He explains that “the most recent fall of the FTX exchange put trust in check, a value as relevant as any of the other reasons that are listed in favor of the adoption of cryptocurrencies, such as speed, efficiency and the possibility of making it a reality. financial inclusion for those who are still outside the system”.