Mastercard integrates the blockchain into its payment infrastructure

This week, the US Patent and Trademark Office (USPTO) published a new statement from the financial giant, which sets out a solution for the "unified settlement system". It should help in alleviating some of the disagreements related to payments between enterprises. The specific problems mentioned in the application include growing storage requirements and total transaction volume.

It is noteworthy that Mastercard mentions in the text that such a system can include transaction accounting based on the blockchain.

According to the statement: "In some cases, the registry can be built on the basis of a blockchain configured for storing related data. In the system, data values can include purchase orders, invoices, transaction data and other data stored in the register"

Mastercard explained that the blockchain will be able to automatically notice all changes made to the registry, creating a verifiable and unchangeable record of all data. As a result, attackers cannot change transactions in the system.

All news