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."