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.
What I think the device is somewhat very similar to the RSA device that we use in our daily office life to log in to the office VPN. However, for cryptographic keys, the usage may be somewhat different than the previous RSA devices, that needs to be attached to the computer through an USB and then you will be able to open any designated platform! That's what I am assuming but not sure as not much details are given in the article!
It's good that Banks have started understanding the utility of blockchain and cryptography! It reminds me one of the quotes of Mahatma Gandhi,
"First they ignore you, then they laugh at you, then they fight you, then you win."
We are on the way of winning, slowly but surely it will happen!