PayPal is getting in on the blockchain craze. The payments giant has invested in Cambridge Blockchain, a budding startup developing digital identity management software for financial institutions. In an announcement on its website, Cambridge Blockchain said the investment will help the two companies explore potential collaborations powered by blockchain tech. The investment was part of a Series A funding round, which also included backing from Foxconn’s HCM Capital, Partech Partners, FuturePerfect Ventures and Digital Currency Group. “We made an investment in Cambridge Blockchain because it is applying blockchain for digital identity in a way that we believe could benefit financial…

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