If there was a global race to secure blockchain patents, Bank of America would be winning. They currently have 50 approved blockchain patents. This seems like a big vote of confidence for the technology, but it could also be a way to promote their business and appear to be on the cutting edge of Fintech.
Bank of America filed their first blockchain patent in 2014. It was titled, “Wire Transfers Using Cryptocurrency,” and the U.S. Patent and Trademark Office (USPTO) approved it in September of the following year. The bank has done little to develop the platform further, and this could be indicative of their view on cryptos and blockchain technology.