Mastercard targets patent for anonymization of blockchain transactions

Posted 07 December, 2018

Mastercard wants to register the blockchain transaction anonymization system with the US Patent and Trademarks Office.

According to the patent application, the company has developed the technology that will help users remain anonymous while making transactions via blockchain.

Technically, "the methods and systems discussed herein use intermediary addresses to obfuscate the source and destination of funds for transactions conducted via the blockchain, which would result in showing the user only transferring funds to and receiving funds from a small number of addresses that are also involved in a significantly large volume of transactions with various other users, thereby rendering the data innocuous," reads the document.

Besides, some crypto holders may also expect to remain anonymous while making the transaction. However, the blockchain addresses can be analyzed discovering the wallet holder with the location and other data. Thus, this technology is said to make data analytics process more complicated.

The patent says:

"In some cases, the amounts themselves may also be obscured through the use of multiple transfers involving multiple addresses, which may further increase the anonymity provided by the systems and methods discussed herein."

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10 December, 2018 11:50

← CoinAlpha fund fined $50,000, SEC reported

The US Securities and Exchange Commission slapped crypto fund CoinAlpha Advisors LLC with a fine after determining that the company marketed securities without a corresponding license. The company will have to pay a $50,000 fine as well as pay back all funds to the investors. The fund received $608,491 from its 22 investors. It was stated that the fund failed to take sufficient security measures – the company did not follow KYC policy in terms of clients' verification. SEC notified the fund about that fact and only afterwards the latter engaged a third-party company to check the accreditation of the investors.

CoinAlpha fund fined $50,000, SEC reported

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07 December, 2018 14:25

United American Corp files lawsuit against number of crypto companies citing manipulations in BCH network →

US-based United American Corp (UnitedCorp) reportedly filed a lawsuit against Kraken, Bitmain, Bitcoin.com, Rodger Ver and other individuals citing that they took part in the plan aimed at capturing control over BCH network. The company has released the statement at its website saying that the above-mentioned parties are involved with the observed collapse of Bitcoin Cash market capitalization. They are said to study own interests ignoring other players. UnitedCorp requires the court to ban the mentioned parties from carrying on activities that could harm Bitcoin Cash network. It also plans to receive a compensation for the losses, which will be determined by the court.

United American Corp files lawsuit against number of crypto companies citing manipulations in BCH network
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