MasterCard submitted a digital currency refund patent application

nnnIn fact, MasterCard has been exploring the chain chain technology, the United States Patent and Trademark Office recently announced the company to submit a new patent application in this regard. This patent concept is designed to provide a refund service for digital money users through a shared wallet, making digital money transactions more robust and reassuring.n
nnTranslated by: Inan
nA patent application from the world’s leading credit card issuer MasterCard indicates that the company is exploring a refund service for digital money users.n
nThe patent application entitled “Information Transaction Infrastructure” was submitted by the end of January this year and was published by the USPTO on August 3. The only inventor of the patent was written by Vladimir Goloshchuk, whose LinkedIn data showed that he was a senior analyst at MasterCard.n
nThe patent application details the infrastructure available for user authentication, and can be linked to their choice of open digital currency addresses.n
nThe application explains the most appropriate of the mechanism, that is, the user through the exchange or other services to the account to pay the money, and these funds may be put together with other people.n
nIf the merchant has to refund, then they will put the money in the address associated with the user account. In this case, the exchange or custodian may need to know the source of the funds and the reasons for the refund.n
nTo solve this problem, MasterCard provides the user with a way to have two types of wallet through a shared service.n
nnThe basic principle of this arrangement is that the users who share the wallet service have two types of wallet.First they have a ‘public’ wallet for a publicly visible verified transaction on the chain that the user will pay using a public wallet or Receive a digital currency other than a shared wallet service.n
nnThe application also wrote:n
nn”Using this method can solve the refund problem, that is, the payment received from the public wallet can be returned to the wallet as it is.”n
nnMasterCard has submitted several patent applications over the past few years, and the application is up-to-date. The company also developed a project focused on block-chain technology and released a dedicated API last fall.n

Leave a Reply

Your email address will not be published. Required fields are marked *