Mastercard Submits Patent for Tracking User Payments via DLT

News
Mon, 09/17/2018 - 09:43
Yuri Molchan
Mastercard submitted several applications to the US Patent Office. There the company makes a point of how an open ledger can be engaged in tracking P2P payment operations
Cover image via U.Today

Just recently, Mastercard submitted several applications to the US Patent Office. There the company makes a point of how an open ledger can be engaged in tracking P2P payment operations in the course of their processing. This way of utilizing the new technology can be handy for organizations and for other payment platforms too.

The patents detail how DLT can be engaged in managing customer accounts and registering transactions for purchases. The latter can also be used on multi-service platforms. Data kept on Blockchains cannot be falsified or adjusted, says the documents, and will be available for checking at any time for the participators of the process.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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