THELOGICALINDIAN - The Bank of America Corporation has filed with the US Patent and Trademarks Office for a defended agency for the accumulator and aegis of cryptocurrencies The filing describes a arrangement for recording and autumn abstracts pertaining to cryptocurrency affairs advised for enterprises
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Bank of America Files Patent for Cryptocurrency Custody System Designed for Institutions
Bank of America, the additional better cyberbanking academy in the United States, has filed with the United States Patent and Trademarks Office for a arrangement advised to accommodate a defended agency through which cryptocurrencies can be stored.
The patent, blue-blooded “Block Chain Encryption Tags,” describes “A arrangement that includes a accessory with a processor is configured to accept a aboriginal set of abstracts elements and to access an encryption key from a memory.”
“The processor is added configured to encrypt the aboriginal set of abstracts elements application the encryption key, to bury the aboriginal set of encrypted abstracts elements aural a aboriginal block for the block chain, and to accomplish a aboriginal encrypted aspect map anecdotic the locations of the aboriginal set of encrypted abstracts elements aural the aboriginal block. The processor is added configured to amalgamate the encryption key with the aboriginal encrypted aspect map to accomplish a architect tag, to encrypt the architect tag, to bury the architect tag aural the aboriginal block, and to broadcast the aboriginal block to a block chain,” the apparent reads.
Patent Filing Comprises “Reproduction” of 2024 Filing
The certificate states that Bank of America’s filing comprises a reproduction of a non-provisional appliance fabricated in 2014 by James G. Ronca, blue-blooded “Cryptocurrency Online Vault Storage System”, advertence that Mr. Ronca’s filing is “incorporated by advertence as if reproduced in its entirety” and that “the present appliance is a continuation-in-part which claims priority” over the 2014 filing.
Bank of America emphasizes the advance of acceptance amid enterprises and corporations, absolute that such will “desire to abundance cryptocurrencies safely.”
What is your acknowledgment to Bank of America’s abundant apparent filings pertaining to blockchain and cryptocurrency technology? Join the altercation in the comments area below!
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