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    Home ยป Mastercard has received a patent for anonymization of transactions in the blockchain

    Mastercard has received a patent for anonymization of transactions in the blockchain

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    By BlockchainJournal on December 9, 2018 News
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    The payment giant Mastercard has patented the technology of anonymous cryptocurrency transactions . According to the application filed with the US Patent Office on Thursday, the company developed a technology that allows you to hide the sender and the amount of the transfer during the transaction in the blockchain .

    Anonymity will be ensured by using intermediate addresses to interact with public addresses of cryptocurrency wallets . In fact, the user's transaction is divided into two parts. When using this technology, users will send and receive cryptocurrency from a limited number of addresses, which, in turn, will be mixed with the common array of transactions of other users.

    According to Mastercard, their development is aimed at meeting the needs of users for anonymity.

    This is not the first Mastercard patent application associated with the blockchain. In September, the United States Patent and Trademark Office published three patent applications filed by Mastercard describing methods and systems for processing transactions on direct payments by users using blockchain technology.

    Recall that MasterCard is one of the world leaders in the number of patent applications filed in the blockchain technology. Together with the financial conglomerate Bank of America and IBM, the payment system is also among the leaders in the number of patent applications filed in this field in the United States.


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