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The US Patent and Trademark Office has published that Mastercard has won a patent that will allow it to implement a method to accelerate payments by crypto -monnaies. This step opens the doors to solve one of the great disadvantages of cryptocurrency to extend its uses.
The document published by the company at the Patent Office indicates that the method they propose is necessary because "it often involves a significant amount of time, about ten minutes, dealing with a transaction However, traditional fiduciary payment transactions that are processed by payment networks often have processing times that are measured in nanoseconds. "
Also, to reduce transaction times, the company offers a new type of user account capable of performing cryptocurrency transactions through existing systems for fiduciary currency.
It should be noted that Mastercard, one of the leading payment systems companies, could enter their field of experience in the world of cryptocurrency and promote its use as a means of payment .
Among the description of the transaction itself, they would use the payment channels and security features of fiduciary money. , but each transaction would represent a cryptocurrency.
Mastercard points out that when processing transactions with cryptocurrencies in this way, "payment networks can assess the probability of fraud and evaluate the risk of blockchain transactions using existing risk and fraud algorithms and information available for payment networks. "
Among the interesting data, the fastest cryptocurrencies The terms of the transaction speed require between 120 seconds and 159 seconds to process a movement, while Mastercard performs about 130,000 fiduciary transactions in the same period.
According to information from Bank and Enterprises
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