Bitcoin, Crypto currency, Blockchain

The 5 main Blockchain patents Bank of America

dbec9405bdb53e01c59a7dc2f2907cd4 - The 5 main Blockchain patents Bank of America

Bank of America Corporation, an American multinational investment banking and financial services company, has signed in the last years, a number of Blockchain-patents. The Bank examines the possibilities of using the Blockchain as a possible method for the acceleration of payments. The technology provides various parties with the regularly update transaction to work book. This transaction book, that always the exact status of the asset holding makes it very difficult for fraud. The following list contains the list of the Top 5 of the various block-chain-related patents of the Bank of America.

Bank systems, the data leading records controlled

Bank of America has applied for a Patent for Blockchain-enabled ATMs. According to the Patent, an ATM machine can be equipped with a processor, a memory and a communication interface, a registration module, a drive module and a reliable messaging module. The registration module may include instructions that enable the ATM with the majority of the commercial Business-to-communicate Server.

Resource allocation and transmission using breakpoints and a distributed network

This Patent describes how a Blockchain to identify and Move resources between objects (e.g. users, institutions or the like) can be used by coupling (for example hard or soft) is implemented on the devices. The devices are then named, and the resources to be moved if necessary, using the Allocation of marks and / or money. The application of Association identifiers and / or save on the devices updated, the processing activities and the performance of the systems, which are used for device transfer between the units.

System for the external validation of the Status of the distributed

On the basis of this Patent, the Blockchain can be used effectively for the tracking and Verification of Share of a limited resource, and the responsibility of the user for the recovery of Parts of the limited resource. In example implementations, it is in a Blockchain, a distributed Ledger (cash book), which is regularly updated. Thus, the Situation and the availability of special parts of the limited resource is displayed, such as the partial return of share Resources by users who are assigned to this part before.

Exemplary implementations realize the benefit of query to the Blockchain, to approve requests for access to selected portions of a finite resource. The availability of this section will be determined and the fulfillment of the users incurred obligations to the resources, the return is checked.

System for the external validation of the safe
Process transactions

This Patent shows how a closed System will function connected to a common block chain based network, to use the common block chain based network. The progress of the distributed recording of transactions between constituent organisations is documented, covering a host system and a Root System. The Host and the Root systems serve the business records of the member institutions to distribute in a way that a Host Organisation which is a member of the Blockchain, the business records can be obtained of all the tribal organisations of the Blockchain. The transaction records are confirmed in the Blockchain, that the transaction records are safe and to ensure that there is always the correct data are stored.

Real-time event collection, analysis, and reporting system

According to this Patent, the Blockchain can be used effectively to Monitor, Detect and Connect of the Changes to migrate event data, since most of the technology to be developed the functions of a majority of the applications. The representative module of the system is automatically triggered by the Add event data to the temporary memory areas that are associated with the majority of applications.

The Proctor module is configured to migrate, to capture multi-attribute event data in real time, before the data are recorded in the queue of the Blockchain. The event processing module is configured in such a way that it is formatted the data collected from the Proctor module, logged, and indexed. The System outlines an event or a data set of formatted data associated with a first migration location, with a secondary event to another event of formatted data by a second transi TenTen location and studied consequently, the Multi-attribute data, in order to detect deviations.

The Blockchain is a dynamic technology, and several companies have discovered this technology for many different purposes. Only a few days ago, Mastercard had developed an American multi national financial services provider with headquarters in New York, USA, a new method to anonymize crypto-currency transactions. According to the U.S. Patent and Trademark Office published a patent application the company has developed a method for managing transactions on a Blockchain that can anonymize both the source point as well as the transaction amount.

The Patent describes that this anonymization method includes storing a key pair containing both a private key and a public key. In the context of the user process, the amount is disguised by the use of various Transfers on additional addresses.

Disclaimer: Because of the buying and trading crypto-currencies with a significant risk of loss goes hand in hand, we speak of crypto Ticker not a recommendation to buy from. Please inform yourself thoroughly, comprehensively and, above all, independently from various sources that you trust before the acquisition of a crypto-currency.

Follow us on Twitter, Instagram, Facebook, Steemit and the Telegram News channel or Newsletter .

You would this article like to comment on? Then come to our Telegram discussion group .

Do you have a passion for the topics of Bitcoin, Blockchain and crypto-currencies? You have Talent as a writer and desire to work in a Team with other crypto-enthusiastic people to work? Get in touch with us and become part of our team! Send us a short application to! We look forward to your applications.

Leave a Comment