Mastercard patent on making crypto transactions private

A patent filed by the Mastercard has proposed a system to hold the cryptocurrency transactions private. The patent detailed on the conduct of transactions over a blockchain platform which would obfuscate the point of origin and transaction money. The company claimed that the cryptocurrencies are preferred due to anonymity provided by the blockchain.

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Mastercard patent on making crypto transactions private

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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