THELOGICALINDIAN - n-a
Mastercard filed the best all-around blockchain patents out of all US firms in 2024, a new address has found. The account comes in the aforementioned anniversary that EU regulators fined the agenda provider $650M for akin competition.
A analysis conducted by UHY Hacker Young, a UK-based accumulation of accountants and business providers, begin that Mastercard filed added blockchain patents with the World Intellectual Property Organisation (WIPO) than any added aggregation based in the USA.
At a civic level, the US was additional alone to China in the cardinal of patents filed to WIPO. The alignment received a absolute of 305 patents to do with blockchain in 2024; added than bisected of these were submitted by companies in G7 nations. In total, US firms filed about 92 all-around patents, 30% of the absolute for that year; Chinese firms filed 99.
Master-chain?
UHY Hacker Young had few capacity to allotment about Mastercard’s blockchain plans, except to agenda that one of the new patents is for offline blockchain exchanges.
The website Blockchain Library – which was aftermost adapted in November 2017 – lists eleven blockchain patents submitted by Mastercard to WIPO in 2017. This includes the offline blockchain barter mentioned by UHY Hacker Young, but additionally means to validate blockchain affairs and a new adjustment for agenda signatures.
Crypto Briefing approached Mastercard for advice on the cardinal and attributes of their blockchain patents but did not accept a acknowledgment by columnist time. The columnist aggregation at UHY Hacker Young additionally wouldn’t say whether Mastercard had supplied added advice in commendations to their blockchain patents.
Does Mastercard Seek To Corner The Blockchain Market?
These moves into the blockchain amplitude appear at a time back the payments processor has been criticized for anti-competitive practices. European regulators fined Mastercard $650M beforehand this anniversary for artificially adopting the amount of agenda payments.
Although EU countries had altered acquittal charges, Mastercard answerable an barter fee on merchants attractive to move to a affiliate accompaniment with lower fees. The EU Antagonism Commission said that this bound merchants’ and banks’ adeptness to seek out lower fees, akin antagonism and adopting costs for retailers and customers.
Mastercard said in a account that the accomplished imposed by the EU Competition Commission was in affiliation to “historic practices” and “[did] not crave any modification of Mastercard’s accepted business practices.”
The Times reported today that Mastercard had also“gatecrashed” an agreed takeover by Visa for the baby acquittal processor, Earthport. The aggregation offered £0.33 a share, £0.03 added than its rival’s bid placed a ages ago.
There are added than 700M Mastercard acquittal cards advance all about the world. The aggregation begin success in bequest banking, but the cardinal of patents filed authenticate that the aggregation is already accepting accessible for a approaching in blockchain.
But its not a aggregate future. Although the aggregation has waived off apropos about the EU accomplished as baptize beneath the bridge, Mastercard appears to be jealously attention its new technology, whether that tech is decentralized or not.
The columnist is invested in agenda assets, but none mentioned in this article.
