MasterCard Wins Patent That Enables KFH Transactions on Credit Cards

The world leader in payment technology MasterCard has won a patent to protect the management of partial reserves in the QIN block block, in order to speed up commercial transactions using encrypted electronic money.

Consumers may one day pay for their purchases using a local currency, but for the time being, MasterCard cardholders can only pay what they buy in the currency declared by the US government as legal tender, said Seth Essen, vice president of MasterCard. For communications.

In a paper published by the US Patent and Trademark Office, MasterCard demonstrates the benefits and importance of digital currency processing, as Block Qin increasingly uses digital currency to hide his security and identity. Have preferred highly encrypted transactions to remain anonymous in order to avoid fraud.

Of course, there are disadvantages to using digital currencies as indicated by the document which is the need to improve the storage capacity and processing of these transactions.

Although Qin Block Coins can often provide security and protection for buyer information, this warranty may be limited to eligible persons, including due to restrictions on the Qin Block. 10 minutes for Block Qin transactions versus a few seconds for conventional payments.

As a result, consumers and merchants have to wait for a significant period of time to complete these digital transactions or rely on the goodwill of the motive, according to the document.

However, although the details are unclear if this method is introduced into the market, it can speed up collective transactions by allowing cardholders to immediately pay their credit cards using a fraction of their digital currency.

"We are constantly looking for ways to bring new ideas and innovations to the market to create value for us, our customers and our cardholders." Patent applications are part of this process with measures taken to protect the intellectual property of the company. "

" This is good news for the rapidly evolving digital currency market, "said Tom Lest, financial advisor to Fundstrat Global. .

Lee, who works as Managing Partner and Head of Research at Fast Money, said: "This really proves that digital money or money Qin Block is a valid form of transaction."