Will Bank of America Defend their Bitcoin-related Patents?

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10 Bitcoin-related patents filed by American multinational banking and financial services house Bank of America in 2014 have recently been published by a US Patents Office.

The patents embody rights to a extended operation of blockchain-based systems including cryptocurrency transaction remuneration complement and choice decentralized allotment systems that concede clients and other financial institutions to make cryptocurrency exchange and allotment of resources with risk detection, offline support and rascal detection.

“A complement comprises a memory operable to store a patron comment compared with a patron and a processor communicatively joined to a memory. The processor is means encode cryptocurrency information compared with a patron comment onto a remuneration instrument. The processor is also means to accept a ask for a cryptocurrency transaction from a patron regulating a remuneration instrument.” read a patent on Cryptocurrency Transaction Payment System, Patent #20150363770.

However, many of a patents published by a US Patents Office that embody offline and offline cryptocurrency safe storage, risk showing and transaction validation systems and cryptocurrency questionable user warning complement have already been implemented by many bitcoin and blockchain startups in a industry.

Over a past few weeks, bitcoin and confidence experts have criticized a efforts of America’s second largest bank, saying that Bank


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