PURCHASE, N.Y.—Mastercard has filed a patent that reveals it might utilize blockchain as a way to protect identity data.
The application, which was originally filed in September 2017 and was released by the U.S. Patent and Trademark Office in April, describes how a semi-private or private blockchain could be used to receive and store identity data, including a "name, a street address, tax identification number" and more, PYMNTS.com reported.
"The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data," wrote Mastercard in the filing.