Mastercard Won a Patent for the Acceleration of Cryptocurrency Payments
In the near future, there will be a technical opportunity to pay for purchases and services by cryptocurrency using bank cards. The only thing left was to pass legislation. In the meantime, you can only pay for the purchase of a cryptocurrency.
Technology, which is now offered by Mastercard, of course, is not yet perfect. However, a document published by representatives of the US Patent and Trademark Office (USTPO) explains that there are consumers who value anonymity and security. These people prefer digital currencies, rather than fiat money.
It also notes that the speed of transactions between the two classes of assets puts the first in "not the most convenient position." It is necessary to perform work to improve the storage and processing of monetary transactions in which the use of blockсchain-currency is used. Operations can take up to ten minutes, then when the usual payment is made in fractions of seconds.
The published document also says:
"It often takes a significant amount of time, around ten minutes, for a blockchain-based transaction to be processed ... Conversely, traditional fiat payment transactions that are processed using payment networks often have processing times that are measured in nanoseconds … Therefore, many entities, particularly merchants, retailers, service providers, and other purveyors of goods and services, may be wary of accepting blockchain currency for products and participating in blockchain transactions."