A Patent Application from Bank of America for the Digital Wallet

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2019-08-29

A Patent Application from Bank of America for the Digital Wallet

Bank of America filed a patent application titled "Multi-Layer Wallet Security" with the US Patent and Trademark Office (USPTO) in August. The content of the application is composed of a multi-layered cryptocurrency wallet interface that is based on blockchain and allows the mutual money transfer. In the application, it is planned to use a different password in each layer, while transferring between layers is achieved using multiple encryption method. Bank of America emphasizes the growth of adoption in companies and among companies, concluding that there will be a "desire to safely store cryptocurrencies." The purpose of this application is to eliminate the risk of possible cyber attacks.

Source/Credit: KoinMedya