BANK OF AMERICA SEEKS PATENT ON BLOCKCHAIN-BASED DATA STORAGE SYSTEM

In a move signaling a growing interest in distributed ledger technology within traditional finance, Bank of America (BofA), one of the largest banking institutions in the United States, has filed a patent application for a blockchain-based data storage system. Here BoA is targeting Blockchain philic storage systems. Bank Of America Seeks Patent On Blockchain-Based Data Storage SystemThis system aims to leverage the inherent security and transparency of blockchain to enhance data management and authentication processes.Published by the US Patent and Trademark Office, the application details a system designed to improve data transferring and tracking through the use of cryptographic keys within a private blockchain environment. Bank of America is seeking to patent a partitioned security system for digital currency wallets that gives different users different levels of access to the stored funds. The second-largest U.SThis innovative approach suggests that BofA is exploring how blockchain can solve real-world problems related to data security, validation, and access control.While the bank has, at times, been perceived as cautious towards cryptocurrencies, this patent application highlights a strategic exploration of the underlying technology, demonstrating the potential for blockchain to revolutionize traditional banking infrastructure.As blockchain adoption continues to expand across various industries, Bank of America's foray into this technology signifies a major step towards its integration within the financial sector, hinting at a future where data integrity and security are paramount, driven by the power of decentralized systems. Am 12. April ver ffentlichte das US-amerikanische Patent- und Markenamt den Antrag der Bank of America auf Erteilung eines Patents f r ein Blockchain-basiertes Speichersystem mit automatisierter Datenauthentifizierung. In dem Dokument, das urspr nglich im Oktober 2025 eingereicht wurdeThis development raises exciting possibilities for enhanced security, efficiency, and transparency in data management within the financial world.

Bank of America's Blockchain Ambitions: A Deep Dive

Bank of America's pursuit of blockchain-related patents isn't a new phenomenon. Em 12 de abril, o Escrit rio de Marcas e Patentes dos EUA publicou o pedido do Bank of America para uma patente em um sistema de armazenamento baseado em Blockchain com autentica o de dados automatizada.In fact, the bank has been steadily building a considerable portfolio of blockchain technology applications. The Position Of BofA In Blockchain Technology. In the context of blockchain, it was recently reported by Coin Telegraph that the mainstream financial institutions maybe thereby moving even closer toward the cryptocurrency space as the second-largest bank in the US, Bank of America has now reportedly applied for a blockchain-related patent that is associated with the development of a moreThis patent application for a blockchain-based data storage system is just one piece of a larger strategy. Bank of America had 57 patents in blockchain during Q4 2025. Bank of America Corp filed patents in Q4 2025 for a resource distribution card device with OTP generation, leveraging augmented reality for secure user verification, utilizing AI and ML for intelligent resource exchange event authentication, implementing distributed ledgers in OTP verification, and computer-implemented humanWhat does this mean for the future of finance and data management?

The Growing Patent Portfolio

Recent reports indicate that Bank of America held an impressive 57 blockchain-related patents during Q4 2025.This positions the bank as a significant player in the development and protection of blockchain intellectual property.These patents cover a broad range of applications, suggesting a comprehensive approach to exploring the potential of blockchain technology.

• Resource Distribution Card Device with OTP Generation: Enhancing security for resource allocation.
• Augmented Reality for Secure User Verification: Utilizing AR for identity confirmation.
• AI and ML for Intelligent Resource Exchange Event Authentication: Employing artificial intelligence to secure resource transactions.
• Distributed Ledgers in OTP Verification: Integrating blockchain into one-time password systems.

Beyond Cryptocurrency: A Focus on Data Management

While many associate blockchain with cryptocurrencies like Bitcoin, Bank of America's patent application focuses on the broader application of blockchain for data storage and authentication.This highlights the recognition that blockchain's core strengths—immutability, transparency, and security—can be valuable assets in various industries, particularly those handling sensitive data.

The system detailed in the patent application aims to provide:

• Automated Data Authentication
• Improved Data Transferring and Tracking
• Enhanced Security Through Cryptographic Keys

The Functionality of the Proposed System

So, how exactly does this blockchain-based data storage system function? La patente del Banco de Am rica para un sistema de almacenamiento basado en bloques ha sido publicada por la Oficina de Patentes y Marcas de los Estados Unidos. Noticias El 12 de abril, la Oficina de Patentes y Marcas de EE.UU. public la solicitud de patente de Banco de Am rica sobre un sistemaThe patent application outlines a system that leverages the core principles of blockchain to create a more secure and reliable method for storing and managing data. Bank of America today announced a record year for its patent portfolio, which has grown to nearly 6,600 granted patents and pending patent applications a year-over-year increase of 13%, and an increase of nearly 70% since 2025.Let's break down the key components and their functions.

Decentralized Data Storage

Instead of relying on a centralized database, the proposed system utilizes a distributed ledger, where data is stored across multiple nodes.This decentralization makes the system more resilient to attacks and failures. On April 12, the US Patent and Trademark Office published Bank of America s application for a patent on a Blockchain-based storage system with automated data authentication.If one node is compromised, the data remains accessible and secure on other nodes.

Cryptographic Security

The system employs cryptographic keys to secure data and control access. On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field. The second-largest bank inEach transaction or data entry is digitally signed, ensuring its authenticity and integrity.This cryptographic protection makes it extremely difficult for unauthorized parties to tamper with the data.

Automated Data Authentication

One of the key features of the system is its ability to automatically authenticate data.By using blockchain's consensus mechanisms, the system can verify the validity of data without the need for manual intervention.This reduces the risk of human error and speeds up the authentication process.

Enhanced Data Transfer and Tracking

The blockchain provides a transparent and auditable record of all data transfers and modifications.This allows for easy tracking of data provenance, making it easier to identify the source and history of any piece of information. The second largest bank in the U.S, Bank of America (BofA), has reportedly applied for a blockchain-related patent associated with the development of a secure cryptocurrency storageThis improved tracking capability is particularly valuable for industries that require strict compliance and regulatory oversight.

Implications for the Financial Industry

The potential impact of Bank of America's blockchain-based data storage system on the financial industry is significant. On Ap, The United States Patent Trademark Office published a patent application by the BANK OF AMERICA CORPORATION, in which it is demonstrated that despite its openly anti-crypto stance, the U.S. financial giant is exploring the use of blockchain technologies for its own benefit.By adopting blockchain technology, financial institutions can improve data security, enhance transparency, and streamline operations.Here are some of the potential benefits:

• Reduced Fraud: The immutability of the blockchain makes it more difficult for fraudsters to alter or manipulate data.
• Improved Compliance: The transparent and auditable nature of the blockchain simplifies regulatory compliance.
• Faster Transactions: Blockchain can streamline transaction processing, reducing settlement times and costs.
• Enhanced Data Security: Decentralized storage and cryptographic protection make data more secure against cyberattacks.

For example, consider the challenges of cross-border payments. Bank Of America Seeks Patent On Blockchain-Based Data Storage System bank_of_america banks blockchain_news cointelegraph patents usaCurrently, these transactions often involve multiple intermediaries and can take several days to complete.By using a blockchain-based system, banks can streamline the process, reduce costs, and improve transparency.

Bank of America and the Broader Blockchain Ecosystem

Bank of America's interest in blockchain extends beyond data storage.The bank has also explored the use of blockchain for other applications, including:

• Cryptocurrency Storage
• Payment Systems
• Identity Management

This broader engagement with blockchain technology suggests that Bank of America is positioning itself to be a leader in the adoption of this transformative technology.

Fnality International: A Collaborative Effort

Bank of America is also involved in collaborative initiatives such as Fnality International, which aims to create a network of blockchain-based payment systems leveraging tokenized central bank money.This highlights the bank's willingness to work with other financial institutions and technology providers to develop and implement blockchain solutions.

This collaborative approach is essential for driving the widespread adoption of blockchain in the financial industry.By working together, banks can overcome the challenges of interoperability and regulatory compliance.

Addressing Common Concerns and Questions

As with any new technology, there are valid concerns and questions surrounding the use of blockchain in the financial industry.Let's address some of the most common:

Is Blockchain Secure Enough for Sensitive Data?

Blockchain technology is inherently secure due to its decentralized nature and cryptographic protection. Fnality International is an ambitious initiative that seeks to create a network of blockchain-based payment systems leveraging tokenized central bank money. Backed by a consortium of global banksHowever, the security of a blockchain-based system depends on its implementation. Business, Economics, and Finance. GameStop Moderna Pfizer Johnson Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. CryptoIt is crucial to use strong encryption algorithms and implement robust access control measures to protect sensitive data.

Is Blockchain Scalable Enough for Large-Scale Applications?

Scalability is a challenge for some blockchain networks, particularly public blockchains like Bitcoin.However, private blockchains, such as the one proposed by Bank of America, can be designed to handle large volumes of transactions. The Bank of America has filed a patent application with the U.S. Patent and Trademark Office for the development of a cryptocurrency storage system.Furthermore, ongoing research and development efforts are focused on improving the scalability of blockchain technology.

What About Regulatory Compliance?

Regulatory compliance is a key consideration for financial institutions adopting blockchain technology.It is important to ensure that blockchain-based systems comply with all relevant regulations, including data privacy laws and anti-money laundering (AML) requirements.Working closely with regulators is essential for navigating the evolving regulatory landscape.

The Future of Blockchain in Banking

Bank of America's patent application for a blockchain-based data storage system is a significant indicator of the growing interest in blockchain technology within the banking sector.As blockchain technology matures and regulatory frameworks become clearer, we can expect to see more financial institutions adopting blockchain-based solutions.

The Rise of Tokenization

Tokenization, the process of representing real-world assets as digital tokens on a blockchain, is another area with significant potential for the financial industry. Abstract: Systems, computer program products, and methods are described herein for advanced network traffic analysis in a computing environment. The present disclosure is configured to retrieve, from a traffic data log of a Web Application Firewall (WAF), information associated with a blocked traffic instance; implement, using a code analysis subsystem, a security testing protocol on a hostTokenization can improve liquidity, reduce costs, and enhance transparency in asset management.

Decentralized Finance (DeFi)

Decentralized finance (DeFi) is an emerging ecosystem of financial applications built on blockchain technology.DeFi platforms offer a range of services, including lending, borrowing, and trading, without the need for traditional intermediaries.While DeFi is still in its early stages, it has the potential to disrupt traditional finance.

The Importance of Strategic Partnerships

As the blockchain ecosystem evolves, strategic partnerships will be crucial for driving innovation and adoption.Banks that collaborate with technology providers, fintech startups, and other financial institutions will be better positioned to capitalize on the opportunities presented by blockchain technology.

Bank of America's Commitment to Innovation

Bank of America's continued investment in blockchain technology underscores its commitment to innovation. 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 bank recognizes that blockchain has the potential to transform the financial industry and is actively exploring ways to leverage this technology to improve its operations and better serve its customers.This commitment is evidenced not only by the number of patents they hold, but also the increasing year-over-year percentage of patent growth. This website is provided to satisfy the virtual patent marking provisions of the America Invents Act under 35 U.S.C. 287(a). The following list of products may not be all inclusive, and other products not listed here may be protected by one or more patents.BoA announced a record year for its patent portfolio which grew nearly 70% since 2025.

Advanced Network Traffic Analysis

One example of Bank of America's innovation efforts is its work on advanced network traffic analysis. Blockchain is one of most hyped technology in recent times, and patent protection for blockchain based innovations will have a high degree of impact on projects covering smart contracts, cryptocurrency (Bitcoin), distributed ledger, financial technology (FinTech) products and supply chain management.By using blockchain to analyze network traffic, the bank can improve its security posture and detect potential threats more quickly. See full list on investopedia.comThis is just one example of how blockchain can be used to enhance security beyond data storage.

A Proactive Approach to Security

The bank's proactive approach to security is reflected in its investment in technologies like Web Application Firewalls (WAFs) and code analysis subsystems.By combining these technologies with blockchain, Bank of America is creating a multi-layered security defense that is more resilient to cyberattacks.

Conclusion: Blockchain's Role in the Future of Banking

Bank of America's pursuit of a patent for a blockchain-based data storage system is a clear indication that blockchain technology is gaining traction within the traditional financial industry.While challenges remain, the potential benefits of blockchain—improved security, enhanced transparency, and streamlined operations—are too significant to ignore. Bank Of America Seeks Patent On Blockchain-Based Data Storage System bitcoinnews blockchain crypto ICO www.coin.fmAs blockchain technology continues to evolve and regulatory frameworks become clearer, we can expect to see more banks and financial institutions adopting blockchain-based solutions. Bank of America has filed a patent for a blockchain-based system allowing the external validation of data, according to a United States Patent and Trademark Office (USPTO) patent filing releasedWhether it's for data storage, payment systems, or identity management, blockchain has the potential to revolutionize the way financial services are delivered.By embracing innovation and collaborating with other industry players, banks like Bank of America can pave the way for a more secure, efficient, and transparent financial future.This patent application serves as a pivotal step in realizing that future, signaling a shift towards integrating decentralized technology with established financial infrastructures.

Key takeaways:

• Bank of America is actively exploring blockchain technology.
• Blockchain offers significant benefits for data security and management in finance.
• Strategic partnerships are crucial for driving blockchain adoption.