[2015-12-18] Bank of America files patent on blockchain sentry

[LiteCoinGuy]

Bank of America files patent on blockchain sentry

In a US Patent & Trademark Office (USPTO) filing disclosure today entitled "Cryptocurrency Suspicious User Alert System," Bank of America (BoA) has set out to protect the ability to watch the blockchain for various events, that they call signs of a 'suspicious transaction,' and report them to the user and/or administrator as they are discovered.

http://bravenewcoin.com/news/bank-of-america-files-patent-on-blockchain-sentry/

[target]

i'm not surprised. we are now closely watched.

[LiteCoinGuy]

http://www.coindesk.com/bank-of-america-patents/

[Bitware]

First they ignore you, then they laugh at you, then they fight you, then you win.

[Minecache]

First they ignore you, then they laugh at you, then they fight you, then you win.

In what context is this to the OP?

[TraderTimm]

First they ignore you, then they laugh at you, then they fight you, then you win.

In what context is this to the OP?

Most likely because in the beginning, the very idea of a major bank caring enough to track Bitcoin transactions would have been laughed off this forum back in the early days. Now, we have so much interest (and duplication of effort through various 'blockchain' efforts), that it seems every major financial institution has their finger in the Bitcoin pie.

The next phase will be after they realize they actually NEED exo-hashing rates for security, instead of their poorly-secured private hashing networks. I think that particular bell will ring a year or so after they've finished wasting a lot of money on making their own mining networks.