Great stories about patents and other IP

Patent for a fortune teller – MasterCard predicts the future

Source: IP news translation by Grill IP from Wall Street Journal, by: Kim S. Nash

Master_Card

Governments, corporations and people in general want to know their future. This is exactly why MasterCard has begun to develop a system to analyse and predict political changes in countries and economic alliances. Kalev Leetary, the leading analyst at the University of George Washington, says that researching the forms and amounts of payments made by ordinary people may show the health of the nation and its vulnerability with some accuracy. Based on that research, it is possible to make more or less accurate forecasts in these areas.

Experts from MasterCard have decided to file a patent application in the US Patent Office which states the following: “the present inventors believe there is a need for a technical solution to predict the future occurrence of such political events.” Moreover, the application description highlights the fact that the analysis of monetary movement on payments inside of various countries can predict disorders, and even changes in political regimes, especially in periods of sanctions.

The analysts of one of the world’s biggest payment systems are keeping the details of development secret. Nonetheless, government authorities have already been supporting similar projects for several years as part of the Minerva Initiative program. Now it is time for private companies to start predicting the future.

This post is also available in: Russian

Tags: , , , , ,
grill-ip

Author: grill-ip

Grill IP is a non-profit project for educational and entertaining purposes only. Our aim is to provide quick and easy access to aggregated and original patent news, IP analysis, interesting business cases in IP, basic legal updates and a list of patent transactions.

Share This Post On

Submit a Comment

Your email address will not be published. Required fields are marked *

Share This