https://cdn.coincrispy.com/wp-content/uploads/2018/04/Mastercard1.jpg
 
The MasterCard payment platform proposes to apply a patent for the development of a blockchain-backed system for the registration of credentials and basic user information.

The patent was introduced last Thursday by the United States Patent and Trademark Office (USPTO), which describes the development of a semi-private or private system based on a blockchain for the storage of basic information. users, such as identification data (user name, address, tax identification code).

As foreseen in the patent, what MasterCard seeks is to create a control and security mechanism that automatically blocks the false information entered into your system.

In this respect, MasterCard describes that:

The use of blockchain technology for the storage of identity and credential data can provide an immutable space for such data that will impose a precise verification process that will prevent the fabrication of false data.

Likewise, the company clarifies that:

It can be a difficult task to refute the supply of false information, since it leads to a process of interaction with the user or entity responsible for this supply. Therefore, there is a need to develop a technical solution, in which the immutable storage of identity and credential data can be performed, which can prevent inaccuracies and false data.

It should be noted that to date MasterCard has already issued several patents relating to the use of blockchain technology. In this sense, one of these documents focused on the creation of a platform that would provide cryptocurrency reimbursement services to users.

For its part, last week, the company announced that it would be hiring about 175 new developers to carry out the new proposals and initiatives, in a branch office in Ireland.