Mastercard will Use Blockchain Technology | Token Spoken
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Mastercard will Use Blockchain Technology

According to information received from the US Patent and Trademark Office system on April 26, 2018, Mastercard filed patent applications for instant payments using blockchain technology.

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Application has been presented departing from the idea that a block can store thousands, millions, or even billions of transaction records in a number of different blocks over time. Mastercard Patent clearly made clear that Mastercard plans to use blockchain technology to create a system where merchants can guarantee instant payments instead of waiting for a couple of days for credit card transactions to be verified and then paid by the card issuer.

This technology, which will be products of Mastercard Labs in line with received information, will open the way for many companies to develop their own blockchain technology in many fields.  In addition, it seems that Mastercard will make it easier to access features such as flexibility, privacy and scalability thanks to this technology.

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