[2018-04-17] Mastercard to Apply Blockchain Tech to Fighting Fake Identities

[Vladdirescu87]

Mastercard has joined the world’s fintech movement, filing a patent for a blockchain technology system. The US Patent and Trademark Office (USPTO) released an application stating this fact on April 12. Blockchain is seen as a key factor for safeguarding customers’ personal data.

“The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data,” Mastercard writes.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/mastercard-to-apply-blockchain-tech/

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[dE_logics]

Not an inherently evil use for blockchain and it could, no doubt, be used for some good, but totally averse to the founding philosophy of Bitcoin.

[Carlton Banks]

I'm sure there are plenty of intelligence agencies who will want access to the Mastercard ID blockchain so that they can continue to procure Mastercards for their agents with fake identities. Great job, Mastercard.

[gabbie2010]

The values of blockchain technology cannot be overemphasize this has resulted in the adoption of this technology by many corporations coming onboard is MasterCard which is using this technology to fight fake identities this is absolutely a welcome development which will invariably makes this technology more popular and exploited by other agencies.

[Karartma1]

I'm sure there are plenty of intelligence agencies who will want access to the Mastercard ID blockchain so that they can continue to procure Mastercards for their agents with fake identities. Great job, Mastercard.

I've said it before and I will say it again and again. All those attempts represent the most vicious and slimy attacks on our last bits of personal freedom. Unfortunately, they seem to be winning by all means.
Very sad, much pain

[jjacob]

Not an inherently evil use for blockchain and it could, no doubt, be used for some good, but totally averse to the founding philosophy of Bitcoin.

I doubt if there is any use of blockchain which is inherently evil. I wonder how such projects would fly when measured against the EU’s right to be forgotten. If a past conviction which is linked to my identity on MasterCard’s blockchain, how would they go about cleaning it up?

[hotimbineh]

Mastercard has joined the world’s fintech movement, filing a patent for a blockchain technology system. The US Patent and Trademark Office (USPTO) released an application stating this fact on April 12. Blockchain is seen as a key factor for safeguarding customers’ personal data.

“The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data,” Mastercard writes.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/mastercard-to-apply-blockchain-tech/

security issues are a lot of tangents to the government in the development of blockchain technology systems
Mastercard will probably be one solution for the development of blockchain technology security system

[orions.belt19]

Finally, the blockchain is being utilized resourcefully. Other companies should do so as well, as there are many uses for blockchain tehcnology. It’s nice to see that Mastercard has embraced this technology instead of just shunning it. This would facilitate towards the improvement of the security of the data of their customers, which has been a problem these days. There are too many frauds and scams these days due to how easy it is to recover data.

[Qartersa]

Mastercard has joined the world’s fintech movement, filing a patent for a blockchain technology system. The US Patent and Trademark Office (USPTO) released an application stating this fact on April 12. Blockchain is seen as a key factor for safeguarding customers’ personal data.

“The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data,” Mastercard writes.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/mastercard-to-apply-blockchain-tech/

This is what I am afraid of- the world to accept and widely use the blockchain technology pioneered by Bitcoin and totally dump the latter. As you may have noticed as well, this is what is happening now. The world has been in awe of the blockchain technology that it is more than willing to utilize such in the processes we need in businesses of all sorts even if they are somehow unbeknownst with Bitcoin per se. With this, they have totally drawn the line between the blockchain technology and Bitcoin thereby making them both independent of each other. But you know, the truth is, Bitcoin championed the blockchain technology. More importantly, Bitcoin would not be where it is today had it not used the blockchain technology precisely because Bitcoin is dependent on the blockchain technology. Certainly, what is happening now is outright distinction of one against the other because they only see the benefit of one, which is, the blockchain technology.

[Alex077]

Mastercard has joined the world’s fintech movement, filing a patent for a blockchain technology system. The US Patent and Trademark Office (USPTO) released an application stating this fact on April 12. Blockchain is seen as a key factor for safeguarding customers’ personal data.

Well, that's the good news that was expected. At first, all large companies negatively belonged to bitcoin and all cryptocurrencies, then slowly the attitude began to change and now the largest banks, and after them, card operators started to use distributed technology for their purposes.

[VasilyVIP]

Not an inherently evil use for blockchain and it could, no doubt, be used for some good, but totally averse to the founding philosophy of Bitcoin.

ideas, which were driving bitcoin enthusiasts, hardly will be accepted by government and bog multicultural companies. So I think that even such an activity towards crypto is a good sign

[Universal pics]

If you can't fight something - join it
In case of MasterCard: you you don't see reasons to fight something - join it and gain profit out of it
Smart decision

[RamonBTC]

A good start to end the day with a bang. I find it really appealing that this technology now is making the mainstream company into a more positive approach on bitcoin/blockchain technology adaptation.

This is exciting and worth to follow for more upadates of story.

MasterCard can’t deny that this technology is unbelievably more secure for storage purposes. It can be a big boost in the morale of the cryptocurrency users and its investors. To the moon again.

[Helen17]

Blockchain is becoming more and more popular, big companies can't ignore it anymore, that's why wise and long-term oriented ones try to adopt technology. I don't see any crime in it, even if it doesn't correlate with initial idea