MasterCard Considers Integrating Blockchain Technology

THE PATENT FORMS A SOLUTION FOR A "UNIFORM SETTLEMENT SYSTEM”.

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New patents published by The U.S. Patent and Trademark Office (USPTO) suggest MasterCard could be considering integrating blockchain within its payments infrastructure.

The patent forms a solution for a “uniform settlement system”.

In theory, this would assist in lessening some hassle complicated by business-to-business payments.

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Increasing data demands as well as the global capacity of transactions were just a few detailed problems mentioned in the request.

In the application, MasterCard hints that one technique could incorporate a blockchain ledger.

“In some embodiments, the ledger may be a blockchain configured to store the associated data. … In the system, the data values may include the purchase orders, invoices, transaction data, and other data stored in the ledger as discussed herein.”

One benefit cited by MasterCard was that malicious clients would not be able to amend any communications in the system.

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