Mastercard Patents Blockchain-Based Payment Verification

Now Mastercard, next Visa or Amex…
So what’s new? Another patent on the way?
To really grasp the spirit of blockchain one needs to trace back to its origins. No no, not just back to 2009 but before that, the open source communities.
The big corporations can do what they want, patent rights and whatnot, but the technology will strive on and prosper, with or without their involvement.

Mastercard Patents Blockchain-Based Payment Verification

Mastercard has submitted a patent application to the US Patent & Trademark Office (USPTO) for a system that is authenticating cards at the point of sale (POS) using blockchain technology. The company has always been outspoken about numerous flaws of traditional payment services and security platforms stating those are prone to breaches, error, and manipulation. They believe their clients perceive blockchain-based currencies as a confidential and secure alternative.

Although the submitted title of the filling is “Method and System For Instantaneous Payment Using Recorded Guarantees” and the title doesn’t clearly say “blockchain”, it is obvious that……

Click here to read more : Mastercard Patents Blockchain-Based Payment Verification

Share this article

Related Posts