One of the most active players in the blockchain. Bank of America (BoA) filed another application, this time associated with an encrypted data storage system. This writes CoinTelegraph.
The application is called the Block Chain Encryption Tags was filed on 18 April 2018, and describes a system designed for recording and reliable storage of cryptocurrency transactions undertaken by the companies. The text posted on the website of the Office for patent and trademark office (USPTO) on August 23.
The system includes a device with a processor that first receives a set of data elements, receives the encryption key, and then encrypts these data elements within the first block of the blockchain. After that, the device integrates the encryption key to the encrypted “map” elements to create and encrypt “tag Creator”, which can be embedded and published in the first block of the blockchain.
Further, the device integrates the encryption key encrypted with the map elements, creating and encrypting a “tag Creator”, which can be embedded and published in the first block of the blockchain.
As noted in the document, this patent application is a redesigned version of the regular application of “Online storage of cryptocurrency”, which in 2014 was filed by James John. Ronka.
Despite his skepticism about the cryptocurrency, BoA for a long time actively explores the underlying technology. In total, the second largest U.S. Bank has filed about 50 patent applications related bloccano, some of which were approved.
The last such case was a patent for a system of automatic exchange of digital currencies in December 2017.
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