Bank of America Files New Patent for Multiple Digital Signatures on a Distributed System

The U.S.’s second-largest bank, Bank of America (BofA), has filed a new patent for adapting multiple digital signatures in a distributed network, according to a U.S. Patent and Trademark Office (USPTO) filing published September 18.

The new patent proposes a system for managing data communication from Internet-connected devices. The document underlines that “the invention provides automated determination of which devices are communicating to which third-party entities and, in some embodiments, the type of data being communicated to such third-party entities.”

BofA’s proposed system addresses devices within an Internet of Things (IoT) environment, describing how each of the Internet-connected devices will communicate data with each other “on an ongoing basis,” while the system would allow a user to “select to prohibit (i.e., block) or limit which data is communicated to which third-party entities.”

Also in September, IBM was awarded a patent for autonomous self-servicing devices within a blockchain-based IoT system. And in August, LG CNS, a subsidiary of South Korean multinational conglomerate LG Corporation, announced a plan to strengthen its enterprise offering of seven platforms including blockchain and IoT in order to promote the “fourth industrial revolution.” […]

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