February 1, 2016
A significant and rapid move towards blockchain adoption was made by Bank of America in recent days. The banking industry giant filed 20 (!) new patents related to blockchain in addition to the 15 that it had submitted to the US Patent and Trademark Office (USPTO) earlier.
Bank of America COO and CTO Catherine Bessant commented to CNBC that the bank has a strong interest in the technology and plans to submit 20 more patents later this month.
"<…> we have tried to stay on the forefront. I think we have somewhere around 15 patents; most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be," commented Bessant.
At the end of last year, the USPTO revealed a list of 10 patent applications that were filed by another major bank—US bank—earlier that year. Submitted patents covered a range of applications from a cryptocurrency t ...