How will a Mastercard patent put credit cards on public Blockchain

How will a Mastercard patent put credit cards on public Blockchain?

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Payments giant Mastercard investigate the use  blockchain people in reliable confirmation of payment cards in the point sale, public records show.

In accordance with the request on a patent, given in the U.S. Patent and Trademark Office (USPTO) and produced on Thursday, Mastercard worked out the processes of transporting and search, to confirm registration data users on a “popular sectional chainlet”.

It is explained in a document, that a two-sided method encodes the image of payment card and saves him on a sectional chainlet after an encryption with the use private and open key. In demand of renewal, when payment was done, a vehicle will use the added keys for decoding of image, that he could be confirmed.

Including this program with a vehicle “point sale”, Mastercard asserts that trade is protected, because a map must not be presented, and consumers do not need to worry that their pay plenary powers are “taken” off in a pay device.

Actually business continued to assert that by means of this procedure users can no longer present the own payment cards during realization payments.

Mastercard said in a record:

“A transaction can be conducted by the reflection of machine-readable code on the device sale point, that can additionally prevent skimming, as a read-out such code it can be easy to be controlled via control of the underlying display, a display can be easy screened and hides often, when in a pocket or purse “.

Although whether there will be the real product to appear in a concept, work marks remarkable effort from Mastercard, to use blockchain of people, that, maybe, to increase an often nascent problem with a heart.

In addition, another research related to the sectional chain from Mastercard was additionally shown in the today’s patent updating, that tries to build a blockchain allowing to the clients to translate the traveling itineraries and  reservation requests to retailers .

Taking into account that broadcasting information will remain visible for wide public, she gives possibility to participate in a tender for potential clients in blockchain to the retail dealers, maybe, changing the existing version of aggregating agents hotels and airline tickets.

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