Mastercard Patents a Method to Expedite Transactions in Blockchain Currencies

PHOTO SOURCE: PIXABAY.COM

Mastercard yesterday won patent protection for a method that would manage "fractional reserves of blockchain currency," according to CNBC.

In an email to CNBC, Seth Eisen, Mastercard's senior vice president for communications wrote, "We’re consistently looking at ways to bring new thinking and new innovations to market... and... patent applications are part of that process, taking steps to protect the company’s intellectual property, whether or not the idea ever comes to market."

Even though there are currently no products pertaining to Mastercard's patent for blockchain currencies, some industry observers feel that the patent is a major step towards the mainstream adoption of blockchain currencies.

"It’s really validating the idea that digital money, or blockchain-based money, is a valid form of transaction," Tom Lee, managing partner and head of research at equity research firm Fundstrat Global Advisors, told CNBC.

For readers who are currently interested in trading cryptocurrencies, I would recommend the EASYMARKETS online trading platform.

The EASYMARKETS trading platform lists Bitcoin, Ethereum and Ripple.

EASYMARKETS was established in 2001 and has built up an enviable reputation as a trustworthy and innovative online broker.

Kindly refer to my previous article regarding the benefits and key features of EASYMARKETS.

For traders who wish to avail of this amazing platform, you may register here.

Please feel free to download a complimentary guide to trading psychology by EASYMARKETS.

Cheers,
All the best for your trading endeavours!