According to a new application
that was published on the 25th of
In December, the Bank of America is planning something huge. The Bank of America
is set to patent a new system that uses blockchain technology to improve management
of money. This application was originally
presented in June of last year. In the presented
application, patent references
"Bank systems controlled by records containing data".
According to the abstract of the
application, "Some aspects of disclosure relate to configuration, implementation,
and the use of cash management devices to provide adaptable
and dynamic operational functions. The Bank of America also explained that there
they are still communication difficulties when it comes to cash management duties
through the massive operations of the banks.
Blockchain is the solution – Bank of America
During his explanation, the Bank
of America said that blockchain technology could be the solution
difficulties in communicating in the duties of cash management. The BoA suggests it
blockchain technology could help facilitate these.
As indicated in the patent document,
cash management devices can be used in
operational centers and many others
positions to provide a variety of functions. Some of the functions it can provide include the facilitation of cash deposits and withdrawals.
However, in some cases,
it could be quite difficult to incorporate such cash management devices with
technical infrastructures that support the operations of banks and others
operations while improving the efficient and efficient technical operations of
cash management devices and various related IT systems.
In the last two years, the Bank of America has been looking for ways
intensify efforts to seize intellectual property in the blockchain
industry. In November, it was revealed that the Bank of America has the
most of the blockchain patents to more than 50. The bank has accumulated this number in between
curiosity about the fact that everyone would use them in the near future.
While the Bank of America is enthusiastic
on blockchain, he adopted a
extremely risk-averse position on the digital currency. This made the bank one of the
few institutions on which to support the bans
purchases of associated fiat from customers at the beginning of this year.
Blockchain technology is gaining more recognition
Blockchain technology: the
underlying technology of Bitcoin (BTC) and other digital currencies – it is
increasingly popular. Technology is now gaining more recognition.
Other institutions and companies are now adapting blockchain technology due to
its many advantages. Technology is safe, fast and more efficient.
The industry that tends to be
adopting this technology more is the financial sector. A lot of banks and
financial institutions are starting to see and recognize the numerous
benefits of this technology. Even most of the digital currencies in the
the digital currency market is based on this technology.
Another sector that is adopting
this technology is the automotive industry. The automotive industry is
now integrating blockchain technology into his cars. They use it to track
milling and other functions of the machine.
Bitcoin (BTC) Price today – BTC / USD
At the time of writing, the
the world's most dominant digital currency – Bitcoin (BTC) – is trading at $ 3,940
after an increase of less than one percent in the last twenty-four hours.
Bitcoin (BTC) now boasts a market capitalization of $ 66.28 billion and its trading volume
in the last twenty-four hours it is $ 3.87 billion.