The international payment company Mastercard has filed for a new patent, which will allow the company to build a fractional reserve management system. This is a system in which only part of bank deposits is supported by cash, and the other part is supported by crypto assets.
Mastercard reports that the new system will manage both cryptocurrency and fiat assets, operating as an electronic wallet.
“Transactions that may be performed via a payment network may include product or service purchases, credit purchases, debit transactions, fund transfers, account withdrawals, etc. Payment networks may be configured to perform transactions via cash-substitutes, which may include payment cards, letters of credit, checks, transaction accounts, etc."
This year Mastercard has already received several crypto patents. A new patent application published on Thursday may improve the efficiency of transactions in the Blockchain, which is one of the main disadvantages of bitcoin as a payment system. Traditional processors handle an average of about 2000 transactions per second, while the bitcoin network can carry out only 7 tps.
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