Bank of America Publishes Patent for Permissioned Blockchain for Data Storage

[kreslik.news]

According to a patent application published on Thursday, April 12, Bank of America is considering using distributed ledger technology to replace parts of existing data-sharing systems.

The patent application, which was originally filed by the banking giant in 2016 and published by the US Patent and Trademark Office, detailed plans for apermissioned blockchainthat would securely record and authenticate both personal and business data. “Permissioned” in this case means that only parties who are granted access to the blockchain will be able to access the data.

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