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​​Mastercard Now Applying for a Patent for Anonymous Transactions on a Blockchain

19.12.2018

Mastercard recently applied for a patent on a process that is intended to allow for anonymous payments across a blockchain, though the whole process looks very similar to what people have been doing to anonymize payments for years, IE, use a middleman to obscure the source/endpoint of a specific transaction.

Sending a transaction (or several) to a server (that has a crypto address) which then resends the transaction(s) to the actual intended destination, thus obscuring the link between the original sender and actual intended address. If all this sounds familiar it is because it is how pretty much all crypto tumblers work, as well as the TOR network.

It should be noted this is not how Monero or other privacy coins work.

It is unclear if Mastercard will be awarded this patent and if so what it is they are working on. Most likely, a highly regulated medium for obscuring transactions, one that could even be applied to their customers to allow for anonymous transfers of money through official channels. Not sure how the SEC would feel about that though…

We wish you successful trades with Edinarcoin!

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