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Mastercard Inc (NYSE:MA) Wins a Crypto-Related Patent

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Mastercard Inc (NYSE:MA) has just recently won a new patent, and this one will allow the company to develop its own method of increasing the speed of processing crypto payments.

Mastercard to make crypto transactions faster

The process of making crypto payments, while having many of its own benefits, still takes much more time when compared with payments done with fiat currencies. Fiat payments have evolved over time to become nearly instantaneous, while crypto payments still need up to 10 minutes to be processed and confirmed.

This is an issue that many have tried to tackle in the past, Mastercard included. However, the company needed to win a patent for their solution, which has finally happened, and the document was released on July 17 by USPTO (US Patent and Trademark Office).

The document mentioned the increase in the use of cryptos, especially by those who value privacy, security, and anonymity. However, it also mentions the large difference in processing time when it comes to crypto and fiat currencies. This difference puts cryptos at a serious disadvantage, which is what Mastercard wishes to change.

The patent continues to claim that things like transaction processing and storage need improvement. Because of that, entities like retailers, merchants, service providers, and all the rest that are interested in going crypto, have concerns when it comes to accepting payments via digital currencies.

What is the solution?

Mastercard’s solution to this issue is the creation and offering of a new kind of user account. This account would use fiat currencies systems but would process crypto payments instead. It would link various profiles in order to properly identify the amount of fiat currency, cryptocurrency, as well as address, and an account identifier.

Basically, the transactions made from these accounts would use the payment rails that fiat currencies have already perfected. All the fiat security features would also be included, with the only difference being that the transaction will work with cryptos, instead of fiat currencies. According to Mastercard, this will also allow payment networks to evaluate whether or not there are high risks for the transaction, which might lead to the reduction of fraud attempts. This will be an important new addition to crypto payments since it is not something that blockchain networks were capable of using.

Mastercard’s interest in making crypto payments better, more efficient, and now faster, has been known for a while now. The company has been interested in introducing changes that would protect the crypto users on multiple occasions already. Last year, for example, they made an application for another patent. This one was for the creation of an entire refund service, that would be used for increasing the safety of crypto transactions.

Now, however, crypto payments will be faster, more secure, and will be using already tested systems, which means that the implementation of these systems might not be that far away into the future.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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