Post
Topic
Board Bitcoin Discussion
Banks are maintaining dependence
by
The_Tick
on 31/10/2018, 13:45:48 UTC
https://www.coindesk.com/new-bank-of-america-patent-hints-at-plan-to-store-cryptocurrency-keys/

"Bank of America was awarded a patent for a device that stores cryptographic keys and the document's details hint at applications for cryptocurrencies.

In a patent awarded Tuesday by the U.S. Patent and Trademark Office, the bank outlines a "hardened storage device" for storing private keys – such as those used for blockchain platforms – explaining that, at present, most keys are stored locally protected by nothing more than a password."

Would this make banks responsible for uncontrollable losses? This will be great for adoption and hints at a future where banks essentially regulate smooth digital transactions and keep them secure.