Mastercard has filed a patent for a Blockchain system to store and verify identity data

Mastercard has filed a patent for a Blockchain system to store and verify identity data.

Mastercard stated:
“Traditionally, proof [of identity] has been provided via government identification, credit cards, business cards…[such] proof may be inaccurate… or may be entirely fabricated in ways that may be difficult to identify… there is a need for a technical solution to provide for the immutable storage of identity and credential data.”

The patent describes the ways in which
the distributed storage of identity data on a Blockchain system can function to prevent such abuses.

The system will allow submitting and updating system data exclusively to authorized hosts. Thus, the patent offers (semi-) private, rather than public Blockchain solution.

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