Mastercard Blockchain facilitates new commerce opportunities for the digital transfer of value by allowing businesses and financial institutions to transact on a distributed ledger. Our technology can power multiple use cases and can help take time, cost and risk out of financial flows. For example, use cases may include:
Proof of provenance
Counterfeiting costs 7 percent of global economic output, or $1.7 trillion per year, and is rising at 15 percent per annum. Today, there is no efficient and effective way to prove that goods and services are what they claim to be and that they have not been altered, forged, reproduced or duplicated in any way. Leverage the Mastercard Blockchain and Authorization Network to easily track high-value pharmaceuticals, art, luxury goods as they are created, transferred, purchased and re-sold. For example, use a Mastercard plastic card with a standard payment terminal to record that the asset arrived at a location on the Blockchain.
Cross-border B2B Payments
When two parties agree to transfer funds they write a settlement request to the Blockchain. The Mastercard Settlement Network reads the Blockchain and will transfer the funds between two banks. It then writes a confirmation of transfer to the Mastercard Blockchain.