Bank of America has filed a patent for a blockchain-based system for the external validation of data, according to a filing with the United States Patent and Trademark Office.

Cointelegraph reports the patent describes how the system would record information on the blockchain based on “aggregated information associated with past transfer of resources executed by an entity,” and would update the information on the blockchain with each new transaction activity.

As of June, the bank has nearly 50 blockchain-related patents. Read more here.

ThirtyK Staff
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