Bank of America had 57 patents in blockchain during Q2 2024. The Bank of America Corp filed patents related to a dynamic caching platform using machine learning, tracking physical resources using non-fungible tokens, secure channel selection for multi-factor authentication using non-fungible electronic resources, cryptocurrency custody transfer, and customizing tokens for transactions in distributed ledger systems. These patents focus on improving efficiency, security, and customization in various financial and technological processes. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Bank of America had no grants in blockchain as a theme in Q2 2024.
Recent Patents
Application: Real-time dynamic caching platform for metaverse environments using non-fungible tokens (Patent ID: US20240193082A1)
The patent filed by Bank of America Corp. describes a dynamic caching platform that utilizes machine learning to generate complexity scores based on interaction information from metaverse devices. The platform compares these scores to complexity thresholds to identify caching rules and cache interaction information accordingly. The platform continuously updates the complexity scores and caching rules based on new interaction information, allowing for efficient and adaptive caching strategies. Additionally, the platform can generate non-fungible token certificates based on complexity scores and utilize edge caching for improved performance.
The computing platform described in the patent includes features such as training a machine learning model based on historical complexity score information, updating the model with new interaction data, and utilizing smart contracts for determining caching rules. The platform can handle a wide range of interaction information, including positional characteristics of objects, user preferences, and device capabilities. Furthermore, the platform can generate NFT certificates, pair with edge metaverse devices for caching, and process event requests within the metaverse environment based on cached information. Overall, the patent outlines a sophisticated system for dynamic caching in metaverse environments that leverages machine learning and smart contract technology for efficient data storage and retrieval.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
