Mastercard Credit Card has applied for 4 more blockchain patents, focusing on blockchain payments and transactions

The United States Patent and Trademark Office (USPTO) has published four patents related to blockchain and distributed ledger technology applied for by MasterCard. According to previous reports, MasterCard has applied for nearly 40 blockchain patents.

All four patents were published on November 24 and are related to payments and transactions. According to the patent application documents, Steven Charles Davis is the sole inventor of three of the patents, while the inventor of the other patent is Ashish Raghavendra Tetali.

In summary, these proposed patents show that MasterCard is at least weighing how it might be able to integrate blockchain-based digital currencies into its own systems. These patents focus on methods and systems for authorizing, processing, and securing blockchain transactions. MasterCard believes that the combination of blockchain and existing payment technologies could be a boon to those who make digital payments.

MasterCard wrote in one of its applications:

“Traditional payment networks and payment system technologies combined with blockchain currencies can bring the benefits of a decentralized blockchain to consumers and merchants while maintaining the security of account information and providing strong defenses against fraud and theft.”

The patent filings come just weeks after the credit card giant launched a set of experimental blockchain APIs. Last year, MasterCard also participated in a funding round for the Digital Currency Group.

MasterCard is not the only company to apply for patents related to digital currency or blockchain.

Patent applications published over the past few months have shown a flurry of patent activity among both emerging and established companies. In recent weeks, the USPTO has published applications from startups such as 21 Inc, Blockstream and Digital Asset Holdings, as well as larger companies such as AT&T and Nasdaq.