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MasterCard Asia Submits Patent Application For Micropayments System Built On Tangle Blockchain
Summary: Mastercard's Singapore-based subsidiary has filed a patent application for a method and system for micropayments built on the Tangle blockchain, according to documents. Tangle technology uses blockchain to ensure secure exchange of value and data. The patent claim outlines a pay-as-you-go system that uses a transparent data storage system. To use the system, users must ...
Mastercard's Singapore-based subsidiary has filed a patent application for a method and system for micropayments built on the Tangle blockchain, according to documents.
Tangle technology uses blockchain to ensure secure exchange of value and data. The patent claim outlines a pay-as-you-go system that uses a transparent data storage system. To use the system, users must provide credentials and are billed for what they use.
The data storage system described in the patent could be built on any blockchain like Tangle. The patent authors argue that the proposed system is an improvement from other pay-as-you-go mechanisms which are often attached to machines that accept physical currency to operate or limit payment options available to users.
They go on to say that the new system would increase transparency and eliminate fees that come with credit cards or other payment systems.
By Emily Mason
Tags: Blockchain Payments,Mastercard,Tangle
Link: MasterCard Asia Submits Patent Application For Micropayments System Built On Tangle Blockchain [Copy]
