Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling, a new application published Dec. 25 confirms.
Originally submitted in June 2017, the patent references “banking systems controlled by data bearing records.”
“Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions,” its abstract reads.
BoA explains there remain communication difficulties in aspects of cash handling duties across banks’ huge operations, and suggests blockchain could help ease these.
“Cash handling devices may be used in operating centers and other locations to provide various functions, such as facilitating cash withdrawals and deposits,” the patent document continues….
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