Mastercard using blockchain to combat fake IDs

posted 11 months ago
A newly published patent filing from Mastercard shows that the payments giant may use blockchain as a way to safeguard identity data.

In an application released by the U.S. Patent and Trademark Office (USPTO) last Thursday, Mastercard describes a system in which a semi-private or private blockchain would be used to receive and store identity data, the pieces of which could include a "name, a street address, tax identification number" and more.

According to the patent, Mastercard-approved nodes are the only ones that can update the identity information within the system.
Tags: blockchain, news