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Bank of America (BoA) Publishes New Blockchain Patent

Bank of America (BoA) Publishes New Blockchain Patent

Bank of America (BoA) has filed a new patent for adapting multiple digital signatures on a distributed network, based on a filing report published on September 18th. The patent proposes a new system for managing data communication from Internet-enabled devices. The proposition states:

“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.”

This addresses devices within an IoT environment and goes over how each device will communicate with one another and allows a user to block or limit data which is communicated to and to which third-party entities.

BoA is one of the largest holes of blockchain-related patents and has continued exploring blockchain technology last month when it filed a patent for recording and storing cryptocurrency-related transactions. BoA also filed a patent that allows for external validation of data based on distributed ledger tech.25

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