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.