The corporation has won a patent for the technology that allows speeding crypto payments up. The technical capability to pay for purchases with a card, using cryptocurrencies, will appear in the near future. Now, the matter depends on the law. In the meantime, plastic cards can only be used for purchasing virtual money that are recognized legal by the authorities, noted in Mastercard. In addition, the technology is still raw. The paper, which was published by representatives of the United States Patent and Trademark Office (USTPO), explains that there are consumers who value anonymity and security and these people prefer cryptocurrencies rather than fiat money. However, the speed of transactions between the two asset classes puts the former at disadvantage. The Office also notes that the operation can take up to 10 minutes, while ordinary payments are carried out in seconds. The document states that many organizations, in particular trading networks, retailers, service providers and other suppliers of goods and services, can be cautious about paying for their products with cryptocurrencies and participating in transactions with the blockchain. |
