BoA: The Bank of America has officially won a patent for a system that enables enterprises to store customers’ cryptocurrencies holdings Patent.

The patient was awarded by the U.S. Patent &Trademark Office (USPTO). On November 13th despite it was filed in June 2014.

As mentioned in the Abstract: 

“The system includes a memory and a processor. The memory may store a customer account associated with a customer and an enterprise account associated with an enterprise. The processor may be communicatively coupled to the memory and may cause the system to receive a request to deposit a first amount of a cryptocurrency in the customer account from the customer.

The processor may also cause the system to determine a public key associated with the customer account and receive the first amount of the cryptocurrency. The processor may further cause the system to determine a first value approximately equivalent to the first amount of cryptocurrency and associate the first value with the customer account. The processor is further able to aggregate the first amount of cryptocurrency with an aggregated amount of the cryptocurrency in the enterprise account and facilitate securing the public key in the enterprise account.”

This goes along of the bank strategy which encourages the growth in sustainability manner,

Bank of America says “Building a sustainable company is about how, at the core of everything we do, we are guided by our principles to make the right decisions that will hold us in good stead today and in the future.”

To be mentioned that the bank has already filed many patients in the Blockchain & Cryptocurrencies field other than this patent.

 

 

My Newsletter

Sign Up For Updates & Newsletters