Bank of America Files for Cryptocurrency Storage Patent

[Sandus_Cryptolover]

The patent indicates its application function as recording and storing digital transactions–mainly for enterprises and large-scale businesses. It also details a data security mechanism for blockchain networks by linking encrypted data units for a specific blockchain.

https://cryptoslate.com/bank-of-america-files-for-cryptocurrency-storage-patent/

[Meysa_richa]

this is very good and this can provide perfect data and data storage security, and I strongly believe this will bring progress in the companies that use it.

[prj112031]

and according to your sources it says also

Interestingly, the system is a “reproduced version” of a cryptocurrency patent filed in 2014 by James Ronca, titled “Cryptocurrency Online Vault Storage System.”

(same source)

in my opinion this statements it has a very good and have a third party security , we should wait to others and hear what they thoughts.

[Bytem3]

and according to your sources it says also

Interestingly, the system is a “reproduced version” of a cryptocurrency patent filed in 2014 by James Ronca, titled “Cryptocurrency Online Vault Storage System.”

(same source)

in my opinion this statements it has a very good and have a third party security , we should wait to others and hear what they thoughts.

People will never trust themselves with all of their money. 3rd party safe keeping that gives the people a peace of mind is necessary. Those of us that are comfortable with that can keep in their own money.

[blacknight789]

This is really news of hope. USA is becoming more and more crypto friendly day by day. Such initiative by the bank of America will increase the popularity of crypto currency more famous and this will make the market more disciplined.

[Osayo]

The patent indicates its application function as recording and storing digital transactions–mainly for enterprises and large-scale businesses. It also details a data security mechanism for blockchain networks by linking encrypted data units for a specific blockchain.

https://cryptoslate.com/bank-of-america-files-for-cryptocurrency-storage-patent/

I think this is a good thing really. The Bank of America is now showing interest in the cryptocurrency blockchain technology. Maybe they are beginning to see the need or importance of the technology.

[BlackAngel999]

Actually USA is very much soft to the crypto currency as well as bitcoin. In recent day, bitcoin is becoming more familiar to the US people as well as big intuitions. Now different financial institutions are also showing interest for bitcoin. This is really a great achievement for the bitcoin.

[vy99]

The patent indicates its application function as recording and storing digital transactions–mainly for enterprises and large-scale businesses. It also details a data security mechanism for blockchain networks by linking encrypted data units for a specific blockchain.

https://cryptoslate.com/bank-of-america-files-for-cryptocurrency-storage-patent/

Bank of America is probably the worst bank in the USA, I wouldn't trust them with my money let alone any cryptocurrency.

[onaiwusun]

There is always the dichotomy that the blockchain is good and that bitcoin is useless. That kind of confusion is senseless. If the bank of America can register a blockchain patent, then they should never discredit bitcoin, because they have same underlying technological

[CryptomartN]

This is such a great news. It is now as if the Americans want to throw their weight or support behind cryptocurrency. Things like this have a very great impact of boosting the market confidence and attracting more investors.

[Saisher]

The patent indicates its application function as recording and storing digital transactions–mainly for enterprises and large-scale businesses. It also details a data security mechanism for blockchain networks by linking encrypted data units for a specific blockchain.

https://cryptoslate.com/bank-of-america-files-for-cryptocurrency-storage-patent/

This is a good start and Bank Of America is such a huge bank and many small banks will follow it's lead, I wonder why is this not a good news in the big crypto currency online magazine, it should be and when this will be implemented, we might not know some bank or big companies are also planning secretly.

[Rangerman]

USA is becoming more and more crypto oriented day by day which is a great thing to see. The participation of the Bank of America really does show hop to the people and that the market is becoming more popular.

[jseverson]

This is a good start and Bank Of America is such a huge bank and many small banks will follow it's lead, I wonder why is this not a good news in the big crypto currency online magazine, it should be and when this will be implemented, we might not know some bank or big companies are also planning secretly.

Probably because of the strong anti-bank sentiments within the community. Plenty of people believe Bitcoin will kill banks after all, and that's not going to happen if banks can also act as crypto custodians (well assuming they maintain their user base at least). It's just a patent, which doesn't really mean anything, but news like this are probably encouraging for big businesses who deal with crypto.

[Don Pedro Dinero]

It looks it will be another centralized shitcoin. Good because it helps spread crypto popularity but it is more competition for bitcoin. Banks, after all, don’t want bitcoin, they want a coin they can control

[aoluain]

Ive said it before about banks moving [slowly] to blockchain technologies,
Its going to happen but they will be controlled, centralised ones with nothing
to do with bitcoin or any other crypto we are interested in.

[coinwizard_]

Great news for the technology which will help to bring mass adoption. Not so good for ripple hodlers because this is further proof that real banks will not use their currency even though it is centralised, they will simply use their own