BofA Blockchain Patent Applications

Bank of America's blockchain patent filings demonstrate bankers' changing views of the technology over the last few years. BofA is applying for twenty (20) blockchain-related patents this year. Blockchain has been regarded by some as the most significant technological advancement in finance since double-entry accounting.

"'We want to patent so […] we don't have to worry about getting sued because we have the IP,' is one way to justify BofA's patent strategy," said Brian Knight, Associate Director of the Milken Institute's Center for Financial Markets. FinTech observers note that BofA’s approach is a practical one.

Securing patent protection for software and business methods can be a difficult path to navigate. A qualified and experienced FinTech patent attorney can help chart a course to improve your chances of success.