Mastercard patent blockchain for verification of coupons

Payment system Mastercard intends to use the technology of the blockchain to authenticate consumer coupons.

According to information published on the website of the office for patents and trademarks (USPTO), the company creates the application «Method and system of authentication of coupons through the blockchain,» which involves the use of technologies to store, to combat fraud and ensure the redemption of coupons only by authorized persons.

The idea is that the blockchain can help reduce the risk of data manipulation by creating certain types of systems for data storage coupon, including those that directly link the coupon with the account of the transaction to ensure that only the specified transactional account is eligible to redeem him.

«Store coupons associated with the transactional accounts, can be expensive and prone to manipulation. In addition, the company must offer a suitable interface for users to access the data warehouse to determine what coupons were associated with their transactions,» – reads the description of the patent application Mastercard.

«Thus, there is a need for technological solution in which the coupons may be issued to an individual for ransom and where the system relies on a public data source to provide an implementation without the use of additional resources for the organization-Issuer,» said the company.

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