Bank Of America adds the deposit of private keys to the Blockchain patent


Bank of America (BoA) has acquired an additional patent related to cryptocurrency, a deposit confirmed on October 30, continuing its efforts to "prepare" for the future growth of the sector.

The last recognition, which is added to the growing stack of cryptocurrency and blockchain deposited by the bank, refers to the storage methods for private keys.

In particular, the file of readings, the current opportunities to ensure that private keys are not checked are not sufficient.

"[W]many […] devices may provide to acquire evidence of a security breach (for example, physical or non-physical tampering of the device and / or data), such devices do not provide a real-time response to such violations, such that the appropriation misappropriation of private encryption keys is prevented ", writes BoA. The patent application continues:

"Therefore, there is a need for a secure means of storing private encryption keys.The desired storage media should reduce the risk of misappropriation of keys due to the fact that the keys are stored internally in the # 39; internal of a processing node that is often or, in some cases, continuously accessible via a public communications network, such as the Internet. "

As reported by Cointelegraph, the banking giant has tried several patents in recent months, which refer in various ways to external validation, data storage and others.

At the same time, officials remained very skeptical of the cryptocurrency itself, prohibiting credit card customers from buying it while admitting that Bitcoin (BTC) was a "troubling" problem for its operations.

In June, CTO Catherine Bessant said that the patent procedure should safeguard the bank's interests in the event that the technology surrounding cryptocurrency becomes mainstream.

"We have less than 50 patents in the distributed blockchain / ledger space," Fortune said at the time.

"Even if we have not found opportunities on a large scale, we want to be ahead of what we want to be prepared".

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