Mastercard Patents Multi-Currency Distributed Ledger
October 11, 2018
As it became known October 10, one of the top payment services, Mastercard, has won a patent to develop environment which would allow to start various distributed ledgers and use several types of currencies in the future.
The U.S. Patent and Trademark Office has made up a report on the project and noted it has huge perspectives. The model would help resolving the problem of storing trade operations data which is almost impossible today with single register.
The model is supposed to function as follows: the project is based on unique method of forming blocks with various blocks containing different types of data. Moving on, the register will be able to gain trading operation data from computing machines which helps to specify the currency with the so-called subnets.
Immense is the role the company has in the sector. Mastercard is an undisputed leader among financing firms by the number of patents for projects that involve the distributed ledger technology.