How will a Mastercard patent put credit cards on public Blockchain

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


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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