Bank of America Acquires Patent for Digital Asset Storage System

Would you like to know what interests large organizations? Acquiring and filing for large patents definitely tell us what interests organizations, regardless of what field it is. Recently the market’s second biggest financial institution, Bank of America, has attained its latest blockchain and crypto patent that involves storage. The patent includes functionality in remote storage of private keys and it was initially filed about 2 years ago. The current issue with storage methods for crypto keys is that the responses are not in real-time. Bank of America’s main goal is to a safe deposit box for these keys. Bank of America also wants the responses to be transparent and allow for the customers to know in real-time if their keys are being messed with. Security and storage of private keys has always been a major topic in the crypto market, and it will be interesting to see how Bank of America makes its impact on this.

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