Bank of America is applying for a patent called "Blockchain Encrypted Tracker"

Bank of America Corporation applied to the US Patent and Trademark Office for a patent on a method for safe storage and custody of digital currency. According to the application documents, this is a system specifically used for companies to record and store data related to digital currency transactions.

Bank of America applied for a system patent for institutional custody of digital currency

Bank of America, the second largest bank in the United States, applied to the Patent and Trademark Office for a patent on a system for securely storing digital currency.

The patent is titled "Blockchain Encrypted Tracker," and this system includes a "device with a processor configured to receive the first set of data elements and obtain the secret key from memory."

This patent document introduces, "The processor is configured to encrypt the first set of data elements with a key, embed the first set of encrypted data elements in the first block of the blockchain, and generate an encrypted element distribution map, The above will mark the position of the first group of encrypted data elements in the first block. The processor will further combine the key and the first encrypted element distribution map to generate a creator tag, encrypt the creator tag, and then The creator tag is embedded in the first block, and the first block is published on the blockchain."

The application documents "reproduce" the patent application in 2014

This document points out that this patent application of Bank of America reproduces a non-temporary patent application "Digital Currency Online Custody System" filed by James G. Ronca in 2014, and claims that it will repeat the patent by reference. Ministry content, the application submitted now is a partial continuation of the 2014 application.

Bank of America emphasized that as more and more companies and enterprises use digital currencies, there is a need for companies to "safely store digital currencies."

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