BOA requests patent for risk detection system
The US institution recently showed its concern for the cryptocurrency industry, so it asked for a patent before the USPTO
One of the most important banks in the United States, Bank of America, recently applied for a patent for the detection of risks in the cryptocurrency sector.
Recently the institution based in North Carolina showed its concern for the cryptocurrency industry.
The United States Patent and Trademark Office (USPTO) approved the request to the bank on April 30th.
“As technology advances, financial transactions involving cryptocurrencies have become more common. For some companies, it may be convenient to calculate the risk of making a cryptocurrency transaction,” says part of the document.
The BOA will now have a risk detection system, which will be directed exclusively to virtual currencies, granting a risk score in cryptocurrency transactions between a client and a third party.
This score will allow to recognize a suspicious operation, which would involve an investigation process against the transaction.
The system will include a “processor“, which will be in charge of receiving the client’s request to carry out a cryptocurrency transaction with a third party.
K. Tovar
Source: Coincrispy
