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Yesterday Mastercard filed a patent that would allow the company to send anonymous transactions using blockchain technology. In summary, the abstract for the patent describes it as a method to send an anonymous transaction, via a blockchain, which generates a digital signature use a private key and transmit the transaction to another node on that blockchain.
The deposit arrives after the payment giant announced that it would open access to its blockchain payment API, Mastercard Developers, in October of this year.
Claiming claims
These documents come from a myriad of other companies that try to block the patents related to the blockchain. Last month, the Amazon retail giant was awarded two blockchain patents. Even companies like Xerox, Bank of America, Square and JP Morgan are claiming their claims.
Overall, the growth of blockchain patents is probably a positive sign for the legitimacy of technology. By providing companies with ways to monetize development, it could stimulate further innovation around technology.
That said, these patents are in sharp contrast to the collaborative and open source ethos of many cryptocurrencies and blockchain projects. While innovation in technology proliferates, companies like Mastercard will try to make the technology proprietary.
The way large companies will interact with existing open source communities driving the major blockchain innovation is unclear. That said, blockchain is a step towards the mainstream.
Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money in the trade of cryptocurrencies.
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Mitchell is a software and entrepreneur enthusiast. In addition to writing, he runs a non-profit that teaches people about the blockchain. In his free time he loves playing chess or hiking.
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