MasterCard Is Ready to Adopt Blockchain

MasterCard Is Ready to Adopt Blockchain

MasterCard is one of the latest entities among the payment service giants to adopt blockchain in order to keep a track of consumer payments.

The U.S. Patent and Trademark Office published a series of patent applications where Mastercard outlined how a distributed ledger technology (DLT) can be used to enable secure storage of key data for transactions, including point-to-point and business-to-business transactions.

A blockchain ledger can simplify the process in which purchase orders are registered and monitored as well as monitoring purchases on multi-service platforms.

Mastercard has secured a number of patents related to the blockchain, including the one that uses a method to accelerate the cryptocurrency payments. As of August 10, Mastercard had 80 patents filings linked to blockchain-related technologies.

Finrazor provides an overview on enterprise blockchain adoption in the recently published article on how corporate giants are exploring blockchain technology.

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