One of the authors of patent applications in the field of application of the blockchain technology, filed a financial conglomerate Bank of America, Michael Weller (Michael Wuehler) stated that, in his opinion, they are meaningless, as in fact the Bank is not going to introduce new approaches and uses them to create the illusion of their innovativeness.
The name of Waler that in 2016, moved from the Bank to the blockchain-the company ConsenSys, on the website of the Bureau for registration of patents and trademarks United States listed among the sponsors of the system, allowing for external validation of data in network processing data. However, he claims that appears in 7 applications Bank of America.
However, technical Director Catherine Bessant (Bessant Catherine) explained that although Bank of America currently do not see opportunities for large-scale technology implementation of a distributed registry, in order to take in this area leading position, we need to prepare.
My name is on 8 of the 50 Blockchain patents filed by BofA and from my perspective they are meaningless other than making for press releases and public perception of innovation. https://t.co/5OUzbg7qKx
— Michael Wuehler (@wuehler) August 25, 2018
Recall that Bank of America holds a leading position in the number patent applications that describe solutions using blockchain technology, but considers the cryptocurrency a threat to their business model.
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