Payment solutions provider Square has patented the blockchain technology to allow immediate transactions with cryptocurrency.

The company has already received the approval of the Bureau of patents and trademarks USA (USPTO). Square first introduced the technology in September 2017.

The essence of the new system is that private blockchain records the transaction in real-time. This, in turn, enables cryptocurrency transactions with the same speed as when electronic payments.

Implementation date blockchain solutions for mass use is still unknown.

We will note, in June Square received Regulations – a license enabling you to work with the virtual currency in the territory of the state of new York.

In August, Square has published a report according to which in the second quarter of 2018 the company’s revenues from sales of bitcoin was $37 million.

Earlier it was reported that the system is safe bitcoin payments patent cryptocurrency exchange Coinbase .

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