Bank of America has received a patent to control access to blockchain networks, according to newly released documents.
The patent is entitled system for managing security and access to resource sub-components “
Explains that the information contained in a particular block will be allowed to be accessed by the user in a security-type token. The system will be automated and will be authorized or accessed by the network itself.
According to the US Patent and Trademark Office, Bank of America obtained the patent on May 22, and in recent years the bank has filed many block-chain applications.
Given Bank of America’s sensitivity to the transmission of information over the Internet, its focus on security and data privacy may not be surprising, and the bank also mentions the general security issue in today’s cryptographic currency, where people need to protect their private keys from theft.
In the patent document, Bank of America said, “with the advent of distributed/multi-centric block chain networks ….” Need to develop current systems … Ability to control resource blocks. ”
Bank of America explained:
“It is necessary to provide the specified entity or user with the ability to identify a particular block, and once the blocks have been identified, the security feature ensures that the entity or user accessing the development block is authorized.” ”
In addition, the patent also mentions that its automation function will control the time that a specified entity or user has access to the blockchain to reduce the risk of attack.