looking MasterCard with respect to the integration of blockchain technology infrastructure for payments. The United States Patent and Trademark Office (USPTO) has filed a new application by MasterCard this week, which sets out a solution to a "uniform settlement system" - which would help ease some of the inter-firm friction. Specific issues mentioned in the request include increased data storage requirements and total transaction volume.
It should be noted that MasterCard suggests in the text that such a system could include a transaction book based on the blockchain. The application explained the following:
"In some configurations, the blockchain account book may be configured to store the associated data in the system. Data values may include purchase orders, invoices, transaction data, and other data stored in the ledger as described here."
MasterCard also said that the blockchain technology would be able to automatically note all changes made to the ledger. In addition to creating a record of all data, so that it can be verified but not changeable. As a result, malicious users will not be able to modify transactions within this system. Entry into this area is the latest intellectual property submitted by MasterCard, which calls for the use of blockchain technology in a series of applications dating back to 2014. Recently, in August, the USPTO published an application for the recovery of existing funds On the digital currency.
Source :- Arabs bit