China UnionPay, one of the major payment processors, has recently patent a new blockchain-based system for connecting a network of automated teller machines (ATM’s).
Last month State Intellectual Property Office of the People’s Republic of China released a set of documents revealing a concept, under which ATMs are presented as nodes within a blockchain-powered network. All transactions are shared through a distributed database, which guarantees high level of security and operating time.
Regardless of using only limited amount of data coming from a single point of communication, which hardly seems to be reliable, the system is designed to maintain all transactional information in total security.
https://www.coinspeaker.com/2017/08/29/china-unionpay-files-blockchain-patent-connect-atm-network/
Topic: [2017-08-29]China UnionPay Files Blockchain Patent to Connect ATM Network (Read 2572 times)
August 29, 2017, 11:27:33 AM
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