BofA works in private key storage
The US bank indicated that it is developing a platform with a blockchain algorithm that prevents them from being hacked
This week, the Bank of America of the United States announced that it is working on the development of a security platform for key storage, similar to that used in the blockchain technology.
The motivation for the development of this device is that, since computers are usually very susceptible to hacking because they are always connected to the network.
In view of this situation, the board of directors of the institution took the decision to develop a secure medium for cryptography keys. As indicated, the method should “reduce the risk” of hacking.
The device will also have an anti-theft response, which will be activated when a physical and online minimization attempt is detected.
“There are many external storage devices that provide several security features associated with protecting the data stored in them. However, although many of the devices can provide evidence of a security breach, such devices do not provide a real-time response to violations such as the misappropriation of private keys“, the institution said.
K. Tovar
Source: Coincrispy
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