Former Vice President: Bank Of America's Blockchain Patents 'Unmeaning'

There are many organizations around the world that are involved in new patent applications related to Blockchain technology.

Bank of America, which is the second largest financial institution in the United States, has received about 50 patents on Blockchain technology so far. Most of these patents relate to integrating cryptographic money into banking services. The bank recently acquired a patent for a special online storage system for crypto money.

Michael Wuehler's name is written on over eighty of these nearly 50 patents issued by the bank. According to Wuehler's comments on Twitter, these patents taken by the bank do not really mean anything. In fact, according to Wuehler, the bank is taking these patents only to acquire a place in the media and to form an 'innovative bank' image. Wuehler:

"My name is written in 8 out of the 50 patents that Bank of America has referred to, and I think that these patents mean nothing except to take the lead and show the bank as an innovator."

Wuehler Bank of America has 11 years he left his post in the bank in 2016 and joined the Consensus team.

According to Wuehler, Bank of America is getting patent for Blockchain technology, but the bank is not really moderate towards the crypto money sector. Months before that, banks such as JPMorgan forbade customers to buy crypto money using credit cards, and Bank of America is one of those organizations that introduced the law.

The bank also thinks that the banking sector may start to experience difficulties in the event of the spread of crypto money

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