Mastercard has filed a US patent for a technical solution aimed at ensuring greater anonymity for blockchain-based transactions. According to the documents, Mastercard's system relies on using a series of intermediary addresses to mask the source and destination of funds, and in some cases the amounts transferred. The solution is similar to cryptocurrency tumblers or mixing services which, according to cryptocurrency security firm CipherTrace, have been used to launder about US$1.2 billion.
Mastercard has filed a US patent for a technical solution aimed at ensuring greater anonymity for blockchain-based transactions. According to the documents, Mastercard's system relies on using a series of intermediary addresses to mask the source and destination of funds, and in some cases the amounts transferred. The solution is similar to cryptocurrency tumblers or mixing services which, according to cryptocurrency security firm CipherTrace, have been used to launder around $1.2bn.