MasterCard blockchain: MasterCard is looking into blockchain technology on several fronts. Most recently, the focus has turned to garnering more efficient payment solutions and dealing with the issue of fake IDs.

MasterCard Blockchain: Payment Solutions

MasterCard has dabbled in blockchain for a while now. Back in October 2017, MasterCard offered the ability to send money via the blockchain. Stemming from that, in November 2017, MasterCard filed for a patent based on a blockchain-backed money transfer solution that would offer instant payments.

Now, MasterCard is taking the next step towards coming up with a more efficient payment solution. MasterCard is reportedly looking to hire people with expertise in blockchain technology. As many as 175 people will be joining the MasterCard team at the Dublin-based MasterCard Lab. The aim of the new hires is to work on a more efficient payment solution. They will also be working on creating a blockchain-based solar power solution to help people without access to electricity.

“We’re driving projects that promote financial inclusion at home and abroad, and are working to provide consumers, businesses, and governments with the most innovative, safe and secure ways to pay,” stated Sonya Geelon, manager at MasterCard Lab.