Mastercard and the power of their blockchain

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We all know that almost all of the biggest companies in the world are now trying to think of a way to get them selves into the blockchain mania. It is not always easy to implement a blockchain solution and many established companies are struggling to connect all the dots. But some companies are way ahead of others, or at least that’s what they are telling us.

At the Money 20/20 conference in Amsterdam on June 4, Mastercard’s vice chair Ann Cairns had claimed just that. She said that the company has build their own blockchain that can run the entirety of their payment network. Their solution had been developed to support the need of “real use cases.”

“You just don’t replace existing technology with blockchain because you may not create a better user experience”

-she said and continued

“So it’s funding that thing that it’s going to solve for you. and it may be proof of authenticity, or it could be things like global trade, you’ve got your paws on the technology but your jury’s still out about how instrument it’s going to be.”

Mastercard had really stepped up the game and had very actively pursued new blockchain solutions. In April they have published a patent for “fast tracking” blockchain growth. This would be enabled by speeding up the rate by which the nodes are verifying the data.

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As this project progresses we expect to hear many updates in the near future by this payment giant.

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