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Author Topic: Mastercard won a patent for anonymous transactions  (Read 52 times)
Gugakid
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July 05, 2018, 04:38:06 AM
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Mastercard won a patent for anonymous transactions based on Blockchain. The new Mastercard patent describes a system that facilitates anonymous transactions through a block system. According to Mastercard, the transparent nature of transactions with blocking is an obstacle to adopting this technology for daily payments. Personally for here there will be no transparency. On the contrary, "you are in the rhythm of dance - you do not have to go anywhere" Mastercard actively cooperates with the states. Now the entire transaction will remain in life in the blockchain.
https://www.ccn.com/mastercard-wins-patent-for-anonymous-blockchain-transactions/

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Nerman
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July 05, 2018, 05:02:11 AM
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I do not know if this is true, but i hope you can share some link. It will be a good read.

Anyways, assuming this is true, Banks or financial institutions knows that world are now concern on anonymity. This is a smart move for them. I will not be surprised if they one day created their own coin and also be available for trading.

Gugakid
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July 05, 2018, 05:17:18 AM
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I do not know if this is true, but i hope you can share some link. It will be a good read.

Anyways, assuming this is true, Banks or financial institutions knows that world are now concern on anonymity. This is a smart move for them. I will not be surprised if they one day created their own coin and also be available for trading.
put a link

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wantjokull
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July 05, 2018, 05:55:07 AM
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Interesting news and article as well.

I got this from that article quoted :

Quote
From the patent:

“Thus, there is a need for a technical solution whereby an entity may participate in a transaction where transaction details may be posted publicly to ensure accountability and trust in the data, while still providing anonymity and inability of others to track individual transactions or volume information by transaction party identifying information of both parties of a transaction to satisfy the confidentiality needs of each entity involved in the transaction.”


So it does means that they will be needing some crypto based entity to handle their blockchain part of the transaction. I mean this will make their operation really successful and worth something. So the worst part here is, Mastercard gets to run smoothly over the blockchain and government and financial institutes has no restrictions for that! But when it comes to the blockchain seeded project (like our ICO's) they are prohibited on the contrary to this. Amazing. Thats the only thing right now saucing in my mind.  Roll Eyes

davis196
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July 05, 2018, 06:05:15 AM
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I`m pretty sure that those transactions won`t be anonymous.Mastercard will track everything.They just want to incentivize people,who like anonymous transactions to use their service,but actually this is a trap.
Why nobody is blaming Mastercard for money laundering?Because they are too big to fail.
FBI and CIA are watching. Grin

Gugakid
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July 05, 2018, 06:17:06 AM
 #6

Interesting news and article as well.

I got this from that article quoted :

Quote
From the patent:

“Thus, there is a need for a technical solution whereby an entity may participate in a transaction where transaction details may be posted publicly to ensure accountability and trust in the data, while still providing anonymity and inability of others to track individual transactions or volume information by transaction party identifying information of both parties of a transaction to satisfy the confidentiality needs of each entity involved in the transaction.”


So it does means that they will be needing some crypto based entity to handle their blockchain part of the transaction. I mean this will make their operation really successful and worth something. So the worst part here is, Mastercard gets to run smoothly over the blockchain and government and financial institutes has no restrictions for that! But when it comes to the blockchain seeded project (like our ICO's) they are prohibited on the contrary to this. Amazing. Thats the only thing right now saucing in my mind.  Roll Eyes
now many states are interested in blockchain and want to release their coins in order to totally control people.

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mindrust
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July 05, 2018, 06:25:49 AM
 #7

They are desperately trying to stop people using coins like ltc, btc, monero. They are already trying to accomplish this by promoting projects like ripple but trying it under their own brand...it doesn't make sense.

Think about this... Why would MC come up with an anonymous tx solution? Are they trying to compete with monero now? (According to the article, yes) What if drug dealers and international terrorists use their protocol? Are they ready for this?

It is either they are lying and the stuff they come up with ain't anonymous or they are out of their minds. Nobody with in the right mind would trust them to create an anonymous transaction. Take this bullshit article to a random monero user and watch his reaction. He'll laugh. And this is the guy MC is aiming to make their customer.

It is the exact same mindset Zuckerberg had back in the day.

"I'll fuck you. I'll fuck u in every possible way and you won't notice. In fact, you'll even like it!"


Zuck: Yeah so if you ever need info about anyone at Harvard
Zuck: Just ask
Zuck: I have over 4,000 emails, pictures, addresses, SNS
[Redacted Friend's Name]: What? How'd you manage that one?
Zuck: People just submitted it.
Zuck: I don't know why.
Zuck: They "trust me"
Zuck: Dumb fucks
realcrypto
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July 05, 2018, 06:28:59 AM
 #8

If the existing banks are sleeping over the issue of integrating blockchain technology into the banking system, developers in the blockchain community are not sleeping. There are so many cryptobank projects doing ICO and already existing one that will execute this.

First77
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July 05, 2018, 06:51:43 AM
 #9

Mastercard Slogan: There are somethings money cannot buy, for everything else there is Mastercard.
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July 05, 2018, 07:10:53 AM
 #10

Mastercard won a patent for anonymous transactions based on Blockchain. The new Mastercard patent describes a system that facilitates anonymous transactions through a block system. According to Mastercard, the transparent nature of transactions with blocking is an obstacle to adopting this technology for daily payments. Personally for here there will be no transparency. On the contrary, "you are in the rhythm of dance - you do not have to go anywhere" Mastercard actively cooperates with the states. Now the entire transaction will remain in life in the blockchain.
https://www.ccn.com/mastercard-wins-patent-for-anonymous-blockchain-transactions/
Mastercad may be about to create there own coins and if possible make it anonymous.  However,  I think it maybe a trick by the financial institutions to label anonymous transactions bad!  I will wait as the event are unfolding.  This news should be a plus for cryptocurrencies and mastercard coming to cryptocurrencies is a welcome development.
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