Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Goodcat49 on August 29, 2018, 02:37:28 PM
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Bank of America (BoA), a big US-based banking institution, has filed a patent for a mega system created to give a more secure means for keeping Crypto.
The patent, dubbed "Blockchain Encryption Tags," is so far the second patent related to crypto custodian control which BoA has filed, this one detailing a system that offers crypto storage for large-scale enterprise.
This is in addition to another similar crypto patent application that was filed in 2014, lending some credence to the idea that the BoA is considering making a move into crypto, although in a limited capacity at this time.
BoA to Create a More Effective Digital Vault Storage System
More details surrounding this patent, involve the use of a computing device to manage Blockchain encryption tags, building upon the earlier patent by BoA to develop a digital vault storage system for an efficient, large-scale and institutional crypto usage.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bank-of-america-files-patent-blockchain-encryption-for-crypto/
(https://coinidol.com/upload/resize_cache/iblock/c3f/900_900_1/c3fffd42ad4ec4a0c976dce19a7a3943.png)
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America is one of the countries that have legalized cryptocurrency, so it is only natural that Bank of America tries to make a new breakthrough in the banking system and provides ease of transactions for people. I think this Effective Digital Vault Storage System will be replicated by many countries if there is rapid progress that has an impact on a centralized system.