Barclays Bank to apply for encrypted currency patent

Barclays, the world’s most powerful international commercial bank, this week filed for two patents related to encrypted currency.

The 300-year-old traditional bank is seizing patents for encrypted money transfers and distributed ledger data storage.



There seems to be a tendency for companies inside and outside the ecosystem to lock in the future potential of money.
Barclays has applied for two cryptographic currency patents.

Maybe this is a sign of what’s about to happen.

Barclays Bank, which was founded in London in late 17th century, filed two patents with the U.S. Patent and Trademark Office this week.
One is about the method and system of transferring digital money from the payer to the receiver, which includes receiving data identifiers describing the first entity.

The other is “recording the methods and systems that describe the first entity data, which describes the data of the first entity validated by the second entity, where the identifier is associated with the data, and the identifier is generated by the first entity public key.” “The inventor Julian Wilson and David Fulton are all from Chai County, England.”

No institution has more financial heritage than Barclays.

It is an important member of the British Stock exchange and occupies a place on the New York Stock Exchange. A study published a few years ago shows that it is the most powerful bank in the world.

In the past two years, the bank has been particularly active in the area of cryptographic money.

Last summer it openly worried about the threat to its industry of cryptocurrency technology.

This spring, it teamed up with Coinbase, which is rumoured to be considering its own crypto-currency trading platform. The patents will only add to speculation that the bank is positioning itself for its future finances.