MasterCard has recently filed for a patent that allows them to process payment transactions on their own blockchain

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MasterCard has recently filed for a patent that allows them to process payment transactions on their own blockchain

MasterCard has recently filed for a patent that allows them to process payment transactions on their own blockchain. This patent is unique in that it provides a novel way to link assets between blockchain and fiat currency.

MasterCard reiterated that mixing traditional payment methods and blockchain currencies “may provide consumers and merchants the benefits of the decentralized blockchain while still maintaining security of account information and provide a strong defense against fraud and theft.”

The Patent includes a method that reduces the length of time that each transaction takes and can secure a users information more effectively.

Only one month ago, MasterCard had already filed a different patent in order to speed up payments on their system also utilizing blockchain technology.

MasterCard seems to be pretty bullish about blockchain technology though it should be noted that they have taken a negative stance against cryptocurrency since they see crypto as a real threat.

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