Bank of America (BoA) plans to patent a blockchain-based system for external data verification. The patent application was published on July 17 by the US Patent and Trademark Office. Blockchain is going to be used to track information about resources and confirm transfers. The patent application explains how the system will record information on the blockchain, basing on “aggregated information related to previous transfers of resources, conducted by an enterprise.” Information on the blockchain will be updated with each new transaction activity. According to Fortune, Bank of America currently has 45 patents related to the blockchain technology. According to the Technical Director of the Bank, these patents allow the company to be “ready”. At the same time, Bank of America is not enthusiastic about cryptocurrencies at all. In May, representatives of the Bank called bitcoin “alarming”, and earlier, users of Bank’s credit cards had been banned from purchasing cryptocurrencies with them. Bank of America is not alone in its interest in blockchain. This week, Mastercard presented its patent of a system that allows to make transactions using the so-called “blockchain currencies”. |
