Editor's Picks News

Bank of America patent account cash on blockchain

Yesterday, December 25, Office for patents and trademarks U.S. published application Bank of America to the patenting of a system that uses blockchain technology to improve the handling of cash. The application was filed in the summer of 2017.

“Aspects of the disclosure relate to deploying, configuring, and using devices to cash handling to ensure a dynamic and adaptable operational functions”, – stated in the patent application.

Bank representatives note that the process of cash handling remains a lack of communication between different departments of the Bank, as the cash is very large. The solution to this problem and should help the distributed registry technology (DLT).

“Processing devices cash can be used in operational centers and other places to provide various functions, including the implementation of the issuing and receiving of money. In many instances, to integrate such devices into local infrastructure, which provides banking and other operations, is difficult,” – said representatives of the Bank.


Related posts

Bitcoin Whales Accumulate $108 million Worth of BTC As Price Dips To Around $8,800


Is Amazon Behind The Close Down Of Purse?


Dubai Royal Family Form A Partnership To Enable Crypto Transactions

Jai Hamid