Mastercard will introduce a blockchain technology to protect against fraud with payment cards


Mastercard is going to actively use blockchain technology. While representatives of the company while only examine a way of its introduction. Technology is going to be used to identify bank cards in the places where payments are made. Such an application was published by the company's representatives in the United States Patent and Trademark Office.

Thanks to two-factor authentication, the image of the payment card is coded. This information is stored in the blockchain. When making a payment, the system sends a request. Then, the program decrypts the image using a private key. Thus, verification takes place.The creators are sure that the integration of blocking technology into POS-terminals will help make the calculations more secure. Owners of bank cards will not need to always carry them with them. But in this case, you should always have a smartphone handy.Innovation can be very useful. After all, in only one year, holders of bank cards lose $ 2 billion. All because the attackers read the data cards using terminals and ATMs.

If the technology is successfully implemented, the transaction will be implemented in a completely new way. From the phone screen, the code will be sent to the device for sales. Such a system can overcome carding. Attackers will find it difficult to read or steal this code, because the display can be hidden, covered with a cover - sure the authors of the application.Mastercard has already managed this month to obtain a patent for the introduction of distributed registry technology, through which travelers will tell about the routes that they would like to visit, and the merchants will offer them the best price.

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