Mastercard miss the patented allow transactions in bitcoin to credit cards

Dubai: the gate Arab news technical

ماستركارد تفوز ببراءة اختراع تسمح بمعاملات بيتكوين على بطاقات الائتمان

Won the company global leading in the field of technology payment solutions Mastercard MasterCard, the patent to protect the way of reserves and partial block your Chi blockchain, to speed up business transactions that use bitcoins.

May be able consumers what days of the fee payment of their purchases from their credit card using bitcoin as a currency, but in the meantime, can not for Mastercard cardholders only have to pay for the things they buy back announced by the U.S. government as legal tender, as said Seth, Essen Vice President of Mastercard communications.

In the document published by the patent and Trademark Office in the United States, describes the company Mastercard features and the importance of dealing with digital, so that there is an increase in the use of digital currencies across the block Chi by consumers for security and anonymity, and a lot of people have done a preference transactions are encrypted heavily to not reveal their identity in order to avoid frauds.

Of course there are drawbacks to the use of digital currency as indicated by the document, which is the need to improve the capacity of storage and processing of these transactions.

Although the work of the block Qi can often times provide safety and security for buyers, this warranty may be limited to eligible special because of the restrictions imposed on the block Qi, for example, are still transactions are digital coins last much longer: about 10 minutes to block Chi versus a few seconds for payments to traditional.

As a result, both consumers and merchants to wait a significant period of time to complete these transactions digital of or reliance on the goodwill of the motivation, according to the document.

However, although the details are still unclear if it was put this way in the market has lead to speed up transactions by letting cardholders pay immediately with their credit card using a fraction of their digital.

Said eason: “we’re constantly looking for ways to bring new ideas and innovations new to the market create value for us and our customers and card holders. Applications for patents are part of this process with take steps to protect the intellectual property of the company.”

It is said Tom is not a financial advisor buy Fundstrat Global: “this is good news for the market digital currency which is rapidly evolving”.

He told me who works as a managing partner and head of research at research firm equity in the program “Fast Money, “that really proves the idea that digital coins or money based on the block Chi is a form of transaction”.

Link to it from the source: Mastercard miss the patented allow transactions in bitcoin over credit cards

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