US Patent Issued to MasterCard International on May 20 for "Method and system for private transaction processing" (Irish, American Inventors)

ALEXANDRIA, Va., June 16 -- United States Patent no. 12,307,449, issued on May 20, was assigned to MasterCard International Inc. (Purchase, N.Y.).

"Method and system for private transaction processing" was invented by Ram Patra (Dublin), Thomas Treitlinger (Portmarnock, Ireland), Rakesh Yadav (Cape Elizabeth, Maine) and Damien Conroy (Dublin).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for facilitating secure private transfers in a blockchain includes: receiving an initiate message from a device for a proposed private transfer including a private group identifier, entity identifier, and transfer amount; executing a smart contract using the initiate message as input resulting in transmitting an eve...