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Bank of America Reveals New Blockchain Patent Targeting Cash Handling

Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling, a new application published Dec. 25 confirms.

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.

In November, the bank was revealed to have the most such blockchain patents at more than 50, amid curiosity as to whether it would put all to use in the near term.

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