CHINA UNIONPAY WILL UNITE A NETWORK OF ATMS WITH THE HELP OF A BLOCKCHAIN

Hello Steemians!

The national payment system of China, UnionPay is going to patent the system based on the blockchain technology, which will unite all the devices in the ATM network.

UnionPay stated in its the patent application, that ATMs operate as nodes inside the network, and information about transactions is transmitted to a distributed database, which ensures security and high speed of operations.

According to the idea of the authors of the patent application, the project ensures the safety of operations performed through ATMs.

Representatives of UnionPay have not yet announced the intention to use these development results for commercial purposes.

We recall, that this is not the first blockchain-project involving UnionPay. In September last year, the Chinese company worked on a loyalty program based on blockchain technology in conjunction with IBM.