BoA announces new blockchain patent to facilitate cash handling services

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  • 4 months ago
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Bank of America has announced it is seeking to patent a blockchain supported system aiming to improve cash handling services.

The patent documents read, “Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions.”

“Cash handling devices may be used in operating centres and other locations to provide various functions, such as facilitating cash withdrawals and deposits.”

“In many instances, however, it may be difficult to integrate such cash handling devices with technical infrastructure that supports banking operations and other operations while also optimizing the efficient and effective technical operations of the cash handling devices and various related computer systems.”

The BoA still maintains its views of cryptocurrency as high-risk, imposing bans on purchases, however it has a totally different view on blockchain as it has over 50 patents regarding usage of the technology.


Source: Smart Trend Team