Among large corporations who have filed recent blockchain technology patents including Mastercard (which has developed an instant blockchain payment system) and Goldman Sachs, the most recent one appears to be Bank of America Corporation (BAC), a multinational banking and financial services corporation headquartered in Charlotte, North Carolina.
According to a notification released on December 5, 2017, BAC was successful in its recent patent application for a “Cryptocurrency Transformation System.”
The inventors were James G. Ronca (Decatur, GA), Joseph B. Castinado (Northglenn, CO), Heather Dolan (Sarasota, FL), Thomas E. Durbin (Waynesville, NC), and Richard H. Thomas (Charlotte, NC).
The Cryptocurrency Transformation System comprises a memory operable to store a customer account, a first float account, and a second float account and also comprises a processor communicatively coupled to the memory.
The processor may receive an electronic request for a currency exchange and determine exchange rates for exchanging a first currency for a second currency and may also determine an optimal exchange rate.
This story is from the January 2018 edition of Legal Era.
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This story is from the January 2018 edition of Legal Era.
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