Mastercard will protect the identification data with the help of a blockchain

Leading payment processor Mastercard filed a patent application for a new solution, in which the technology of blockchain is considered as a way of protecting identification data. This is reported by CoinDesk.

In an application published last week by the US Patent and Trademark Office (USPTO), Mastercard describes a system in which a semi-private or private blockchain accountant will be used to obtain and store identification data, including "name, address, taxpayer identification number" and other information .

The description of the application states that this technology will help prevent the use of counterfeit identification data in its systems.

"Using a blockchain to store identification and accounting data will ensure their invariability and safety, which will provide an opportunity for their accurate verification and prevent the forgery of such data," the application said.

Unlike a public blockchain, the system offered by Mastercard will allow you to enter data only to certain nodes. These authorized nodes will "prevent the addition of data that could compromise the accuracy of information already entered".

According to Mastercard, the development could replace other ways of proving the identity that can be subject to falsification and inaccuracies.