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Bank of America Explores Ripple’s Blockchain Technology for its Banking System

Posted on October 21, 2019October 21, 2019 by Ravi Rd

American multinational investment bank and financial services company, Bank of America, has silently tested Ripple’s blockchain to incorporate distributed ledger technology (DLT) in its banking and other financial services. This might be the boldest step towards blockchain adoption as Bank of America is one of the largest and most distinguished banks in the United States. It seems that Bank of America wouldn’t stop here and go a bit further with blockchain deployment in their real-world…

Major Banks to US Federal Reserve: Libra Is a Potential Threat to Sovereignty

Posted on October 3, 2019October 21, 2019 by Ravi Rd

The US Federal Reserve, the country’s central banking entity, recently called up the nation’s biggest banks to present their views regarding the launch of Facebook’s digital currency project Libra. Not surprisingly, most of them turned out to be negative and some even said that it could be a potential threat to monetary sovereignty. The representatives of the banks asserted, as it is showed by the Federal Advisory Council protocols: “Facebook is potentially creating a digital…

Bank of America Files a Patent for Multi-Tiered Digital Wallet Security

Posted on August 21, 2019December 12, 2019 by Ravi Rd

The US Patent and Trademark Office (USPTO) published a new patent application by Bank of America titled “Multi-Tiered Digital Wallet Security,” on August 15. As listed, the new patent’s system was invented by the banking firm’s senior technology manger, Manu Kurian. The patent was initially filed by Bank of America in February 2018 and has now been publicly published. With this patent, Bank of America is planning to provide users with different levels of access…

IBM Holds the Most Blockchain Patents (108) in the US; Bank of America Second (52)

Posted on July 17, 2019December 12, 2019 by Ravi Rd

Big tech and finance companies have been filing patent after patent that indicates the company’s bullishness on blockchain technology. And when it comes to blockchain innovation and patent filings, IBM is leading the pack. Nobody is unfamiliar with how big the tech giant IBM is betting on blockchain technology. IBM has recently launched its blockchain-based cross-border payment platform World Wire and signed six international banks to roll out their own stablecoins on its platform. IBM…

Bank of America Chief of Tech and Operations: Skeptical about Blockchain, Has No Use Cases

Posted on March 27, 2019October 21, 2019 by Julie Williams

The Chief of Tech and Operations at Bank of America Cathy Bessant said in an interview that she is rather skeptical of the ‘new’ technology. This is although Bank of America – the second largest financial corporation in America – boasts about 82 blockchain-related patents. She explained that beyond the bank’s ‘official view,’ she personally maintain a bearish stand on the so-called ‘holy grail of transactions.’ This is a rather strong stand for a top…

Top Blockchain Patent Applicants: Alibaba, IBM, MasterCard and Bank of America

Posted on September 3, 2018December 12, 2019 by Omri Shabath

A new report, which ranks the top companies that have filed patents surrounding blockchain technology, is another a proof of the immense popularity of blockchain and what kind of unfathomable potential this technology holds. The report was compiled by iPR Daily – a media publication specializing in global intellectual property – which gathered all the relevant data available until August 10 from China, the United States, Europe, Japan, South Korea, and also from the International…

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