Bank of America has applied for more than 20 blockchain patents.

Bank of America is becoming one of the most active banks when it comes to applying for patents on the claimed innovations in blockchain and crypto-currencies.

Three new patents originally filed with the Office of the US Patent and Trademark Office at the beginning of last year are added to a total of 20 patent applications related to the blockchain and crypto-currencies filed by the bank since 2014. Of these, nine were submitted in 2016, four were filed in 2015 and 10 - as early as 2014.

Although there were changes in the text used in the documents, three new applications are focused on a hybrid blockchain, consisting either of a multi-tier network of blockbodies, or a combination of state and private blockchain.

In each of them, the blockchain is designed to function as a distributed database for the flow of certain actions, with a comprehensive system providing a center that can monitor security and access to data for different subordinate layers.

It is noteworthy that the idea that blockchain technology can be used to permit access to data is not new to the company previously submitted in the Bank of America's 2015 applications.

Source: from the author