MasterCard Will Use Blockchain to Upgrade Business-to-Business Transactions

mastercard will use blockchain to upgrade b2b transactions

A worldwide payment system company MasterCard received an approval from the US Patent and Trademark Office regarding the application submitted in March of this year.

As we reported earlier, MasterCard got green light from the Office and started developing its own blockchain:

Mastercard Received a Patent on a Coupon Authenticating System on Blockchain

Now the company is directing the powers of this technology to improve and secure B2B transaction within its framework. According to their new patent:

There is a need for a technical solution to provide a disruptive, uniform settlement system which can reduce the amount of processing as well as the amount of communications and fund transfers.

This technical solution is the blockchain technology.

We remind you:

Would Ripple Not Be As Successful If It Hadn’t Been for Mastercard?

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/