The Bank of America (BoA) has won a patent for a system for enterprises to store customers’ crypto deposits, published by the U.S. Patent and Trademark Office (USPTO) yesterday, Nov. 13. The patent, first filed in mid-June 2014, outlines the background to the invention by stating that “as technology advances, financial transactions involving cryptocurrency have become more common,” and noting: “For some enterprises, it may be desirable to aggregate cryptocurrency deposited by customers in an enterprise account.” The patent filing outlines different interactions between customers’ crypto holdings and an enterprise account, with the latter functioning to securely store (or “aggregate”) …

On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field. The second-largest bank in the US has been leading in the informal blockchain patent race, sidestepping such players as IBM and Alibaba. However, that does not mean that BofA is being bullish — the company has been publicly criticizing cryptocurrencies, relying on patents mostly to appear progressive in the fintech community. Brief history of BofA’s filing crypto-related patents The bank filed its first blockchain-related patent back in March 2014, and it was published by the …

Bank of America (BoA) has gained a further cryptocurrency-related patent, a filing confirmed Oct. 30, continuing its efforts to “be prepared” for the industry’s future growth. The latest award, which adds to the bank’s mounting stack of cryptocurrency and blockchain patents, references storage methods for private keys. Specifically, the filing reads, current opportunities for ensuring private keys remain untampered with are insufficient. “[W]hile many […] devices may provide for acquiring evidence of a security breach (i.e., physical or non-physical tampering with the device and/or the data), such devices do not provide for real-time response to such breaches, such that misappropriation …

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week Crypto Exchange ShapeShift Rebuts WSJ Report of Money Laundering Cryptocurrency exchange ShapeShift has issued a denial in response to a Wall Street Journal article that the exchange had laundered around $9 million in ill-received funds. The article, which calculated a total of $88.6 million funneled through 46 exchanges, pinpointed $9 million as going …

The Bank of America (BoA) has estimated that blockchain could be a $7 billion market and provide a major boost to corporate giants such as Microsoft and Amazon, CNBC reports Oct. 2. While BoA’s analysts refrained from putting “a time stamp” on the industry becoming a major, multi-billion dollar addressable market, they reportedly based their estimates on a ballpark figure that two percent of corporate servers would be used to run blockchain at a cost of $5,500 annually. BoA research analyst Kash Rangan told CNBC that the technology is well-suited to some of the world’s largest corporations, noting for example …

The U.S.’s second-largest bank, Bank of America (BofA), has filed a new patent for adapting multiple digital signatures in a distributed network, according to a U.S. Patent and Trademark Office (USPTO) filing published September 18. The new patent proposes a system for managing data communication from Internet-connected devices. The document underlines that “the invention provides automated determination of which devices are communicating to which third-party entities and, in some embodiments, the type of data being communicated to such third-party entities.” BofA’s proposed system addresses devices within an Internet of Things (IoT) environment, describing how each of the Internet-connected devices will …

The world’s fourth-largest telecoms provider, Japan’s Nippon Telegraph and Telephone (NTT), has filed a patent for using blockchain tech for contract agreement, according to a U.S. Trademark and Patent Office (USPTO) release on July 19. NTT’s patent application writes that a problem with contracts on blockchain is that each transactions “contains only the electronic signature of the sender” as the “evidence of contract agreement by the receiver is not left in the transaction.” The patent suggests a “simple, possible way to solve this problem is to, for example, include the electronic signatures of all the involved parties in one transaction.” …

Bank of America (BoA) has filed a patent for a blockchain-based system allowing the external validation of data, according to a United States Patent and Trademark Office (USPTO) patent filing released July 17. BoA’s patent filing proposes using blockchain for tracking resource information and confirming resource transfers, noting that “A need currently exists for providing a more accurate indication of a user's financial standing by allowing external validation of data in a process data network.” The patent describes how the system would record information on the blockchain based on “aggregated information associated with past transfer of resources executed by an …

On April 12, the US Patent and Trademark Office published Bank of America’s application for a patent on a Blockchain-based storage system with automated data authentication. In the document, which was originally filed in October 2016, the author describes a Blockchain-based system for authenticating data and providing secured access of said data to service providers. The patent addresses the problem of data transferring and tracking, which it says can be resolved by means of cryptographic keys in a private Blockchain: “Embodiments of the invention utilize a private Blockchain to store various types of records to be conveyed to the service …

The US Patent and Trademark Office (USPTO) published the details of the three patent applications filed by Bank of America for distributed ledger technology (DLT) or Blockchain technology. Based on the document, the patents were filed in February 2016, and the bank does not seem to be stopping at that as it plans to go big on Blockhain with 20 patents pending since 2016 making it appear like it’s trying to monopolize the industry in the long run. Details of the patent applications The first patent is titled “System for Tracking and Validation of an Entity in a Process Data …