The US Patent and Trademark Office (USPTO) has published four applications filed by MasterCard related to its work with blockchain and distributed ledger tech.
The four applications, all published on 24th November, focus specifically on payments and transacting. Steven Charles Davis is listed as the sole inventor on three of the four applications, while the last also names Ashish Raghavendra Tetali as an inventor.
In sum, the proposed patents suggest that MasterCard is at least weighing the question of how blockchain-based digital currencies could be integrated into its own systems. The applications focus on methods and systems for authorizing, processing and securing blockchain-based transactions, with MasterCard arguing that a combination of blockchain and its existing payment technology could be a boon for those making digital payments.
The company wrote in one of its applications:
MasterCard is far from alone in its pursuit of patents related to digital currencies or blockchain.
Patent application releases over the past few months have suggested a flurry of activity on the patent front among both emerging and established businesses. In recent weeks, the USPTO has published applications from startups including 21 Inc, Blockstream and Digital Asset Holdings, as well as major firms like AT&T and Nasdaq.
Disclosure: MasterCard is an investor in CoinDesk's parent company, Digital Currency Group.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.