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Mastercard Receives Patent On Blockchain Supporting Various Cryptocurrencies

16:03 10/10/2018

The American regulator issued a patent to Mastercard, which aims to develop a technological solution capable of creating different types of blockchain, including the support of several cryptocurrencies. The document is published on the website of the authority.


Mastercard assumes that interested persons or any company may need to store information on different operations on a single platform, which is now hardly possible.


The company suggests solving this problem by generating blocks for one distributed ledger, which will guarantee that various blocks in it will store different types of information.


In the crypto sphere, there is a need for a tech solution for storing different types of transactions within one blockchain. It will reduce the need for a large number of resources and capacities that are required for the creation and subsequent operation of a distributed ledger, as stated in the patent.


The authors of the application claim that a correctly divided blockchain will be able to keep information about the transactions from various computational sources. Each section, that can be described as a “subnet”, will contain data about a particular cryptocurrency or some other details.


According to the study by the specialized media IPR Daily, Mastercard is one of the top three companies (after Alibaba and IBM) that have filed the highest number of patent applications for blockchain solutions.


As previously reported, Mastercard filed a patent application for blockchain to keep track of payments.

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