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Bitcoin News Thursday, July 19
- Mastercard has a new patent that could allow bitcoin transactions on credit cards
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- In the document, published with the U.S. Patent and Trademark Office, Mastercard said that there has been increased usage in blockchain currencies by consumers who value anonymity and security.
- But there are disadvantages to using digital currency, the document noted, and there’s a need to improve the storage and processing capability of such transactions.
- Many entities, particularly merchants, retailers, service providers, and other purveyors of goods and services, may be wary of accepting blockchain currency for products and participating in blockchain transactions, the document concluded.
- However, while the details are still unclear, if the method was brought to market, it could speed up blockchain transactions by allowing cardholders to instantly pay for things on their credit card with a fraction of their digital currency.
- The bitcoin bull pointed out that other countries, such as Japan, have taken a much more positive view on digital money, or blockchain based money, being real transactions.
@CNBC: Mastercard has a new patent that could allow bitcoin transactions on credit cards https://t.co/aJjQNKx6MK
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