BoA gets a Blockchain patent. So what?

So this – it may be something worth of note when one finds a better way to control access to resources within the network that is all about access, managing security, and resources related to a bank systems.
Why, you may ask. Well, remember the DAO hack? Ok, that study ‘Finding the Greedy, Prodigal and Suicidal Contracts at Scale’; where brains from Singapore and UK universities analysed one million Ethereum contracts and found 3,686 broken (translating into millions of dollars for those transferring funds across the network). Unsurprisingly, the cause of the issue was not the ETH blockchain, but the humans programming it?
Or the recent hack that mining pool of HDAC, issuer of the Hyundai-DAC token (DAC) suffered (because attackers could get access to its internal system)?
The security of a blockchain network cannot be readily taken as a given in light of some recent vulnerabilities and loose-ends that have afflicted the industry. So when the US Patent and Trademark Office (USPTO) grants a Bank of America (BoA) legal rights over a patent application that may give some pace on ensuring only authorised users accessing the network, boy, it means something.
This would be done by use of certain keywords associated with the block that a user will have to provide; as well as through a security feature for access-rights/time-period for resources on the block.
One step ahead, one crack closed – isn’t it?


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