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Credit card provider MasterCard to report another Blockchain-Patent – Coin Hero

Credit card provider MasterCard to report another Blockchain-Patent

Home News credit card provider of MasterCard reports another Blockchain-Patent

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Matthias Nemack –
08.12.2018

It is not the first Time that the credit card company MasterCard in the area of the Blockchain looking around for Alternatives. The new Patent makes it clear, accordingly, that the company has recognized the signs of the time.

Technical possibilities of the Blockchain on credit cards transfer

Bitcoin, Ethereum and other cryptocurrencies eventually would play in the case of transactions with credit cards a greater role, was foreseeable. MasterCard has taken this comparatively early opportunity to develop their own crypto-technologies and to search for meaningful partners in the young industry. On this day, the Patent and trademark office submitted a patent application should refer to the current Reports, the use of transaction on the Basis of a Blockchain in an anonymous manner.

Intermediary transactions, and addresses the data to make it non-transparent

In the case of credit card payments a lot of data in the case of cash are so far-less payments, and transactions on the Internet, for the parties involved to privacy, what is a significant safety risk for users. This would like to change the MasterCard with the American patent office submitted application for the future. The background should be different between addresses. This should come at the Postings on the Blockchain, to make, in individual cases, even in several steps in both the country of origin and the sender as well as the country of destination and the addressee of payments unrecognizable. Participants of the system can then make anonymous payments.

Credit cards are intended to provide less data and more

Just for critical consumers, this proposed technology could eliminate some of the typical risk factors of credit cards. MasterCard can provide customers with the usual Service in connection with the benefits of the Blockchain and the digital currencies. Problems such as the critical traceability of the transactions in the public block chains wants to fix the company with his technical approach, apparently.

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