Re: [ANN] Centra Tech | Multi-Blockchain Worldwide Debit Card & Insured Wallet
Centra Tech are not a bank. They are issuing these Mastercard prepaid debit cards as a reseller, not as the entity which actually holds the funds for the cards. The card accounts are held by Mastercard and when the card is used for a transaction the card-reader pings to the Mastercard account with the intended amount to be debited for that card to verify that the required funds are available.
Centra Tech's 'App' appears to simply allow the user to sell their cryptocurrency to Centra at a rate determined by Centra, in order for Centra's own fiat funds to then credit that user's Mastercard account in a regular electronic bank transfer process. Centra would no-doubt be 'buying' the crypto at a below-market price and selling it on an open exchange for a not-less-than-the-purchase price as soon as possible following the purchase from the user, I figure.
The limits of the 'real time' speed of Centra's bank being instructed to make a payment to a particular Mastercard account and for that prepaid card account to then register the credit as being available for a transaction to complete isn't even the major hurdle here, it is the fact that they would need the card-reader process to trigger the credit from Centra's account to the user's Mastercard account in the first place.
That isn't going to happen with a Mastercard pre-paid debit card. The card-reader process will ONLY ping the card account for availability of funds in order to approve the purchase, which means the credit has to be there BEFORE the transaction commences.
Centra Tech's 'App' appears to simply allow the user to sell their cryptocurrency to Centra at a rate determined by Centra, in order for Centra's own fiat funds to then credit that user's Mastercard account in a regular electronic bank transfer process. Centra would no-doubt be 'buying' the crypto at a below-market price and selling it on an open exchange for a not-less-than-the-purchase price as soon as possible following the purchase from the user, I figure.
The limits of the 'real time' speed of Centra's bank being instructed to make a payment to a particular Mastercard account and for that prepaid card account to then register the credit as being available for a transaction to complete isn't even the major hurdle here, it is the fact that they would need the card-reader process to trigger the credit from Centra's account to the user's Mastercard account in the first place.
That isn't going to happen with a Mastercard pre-paid debit card. The card-reader process will ONLY ping the card account for availability of funds in order to approve the purchase, which means the credit has to be there BEFORE the transaction commences.
You don't work for banking, you have no clue what your talking about. Please go look at how a REAL Authorization flow chart looks and you'll see how you got that one wrong.
So the card accounts are held by the issuing bank, not Mastercard, that still doesn't change anything. Would you care to explain at which point in the below REAL Authorisation flow chart something other than pinging the issuing bank's card account for availability of required funds is happening.
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I for one have sat in on one of the phone conferences with the company and heard how the model works and it makes all the sense in the world that is why they actually FILED For patent for it as the CCE didn't exist before. Only time will show you wrong 
. But your too busy policing cryptos to know that.
. But your too busy policing cryptos to know that.So I point out a major flaw in the proposed real-time automatic process of crediting the card accounts with the transaction amount due to these card being prepaid debit cards and your response is to basically go, "Nuh uhh!" and to make a snide dig about my activities on this forum? That's not a rebuttal.
What's the patent application file number?