Bank of America Wants Patent for New DLT ATM

[Goodcat49]

A new patent application shows that Bank of America (BofA) plans to ameliorate cash handling with the help of a blockchain system.

The patent dubbed “banking systems controlled by data bearing records” was initially submitted on Mon Feb 13, 2017, to the U.S Patent & Trademark Office ( USPTO).

Cash Handling Devices   
The patent document also reads that the “device can at least possess one processor, a memory, and a communication interface can keep a device registration module, a safe communications module, a containerized operating module and a non-engagement services module.”   

BofA explained that communication hurdles remain in all aspects of cash handling responsibilities end-to-end in the tremendous activities of banks and thus believes that distributed ledger technology (DLT) could help ease these. The patent doc goes on to say:   

“Cash handling devices may be going to be used in operating centres and some other sort of locations to provide different types of functions, such as facilitating the cash deposits and withdrawals.”   

“In many of the cases, moreover, it may be difficult to integrate such cash handling devices with some of the more technical infrastructures that support banking operations and other operations while also optimizing the effective and efficient technical operations of the cash handling devices and some of the other various related computer systems.”   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bank-of-america-wants-patent-for-new-dlt-atm/