CEO says the company owns more blockchain patents than anyone
The early adopters of cryto envisioned a revolution away from the big banks and financial system.
...but the establishment always wins.
Bank of America CEO Brian Moynihan today said in Davos that his company may be the leader in adopting blockchain technology.
"We have more patents, I think, than almost anybody in blockchain," Moynihan said. "We believe in the idea of distributed ledgers, and smart contracts, and all the words you hear about that. We are developing stuff."
Yahoo did a bit of digging and his claim is probably true.
Moynihan's claim about patents checks out: a company spokesperson says BofA has 48 blockchain-related patents and patent applications. A search of Google's patent database shows Bank of America owns 27 patents containing the word "blockchain," 36 that include "bitcoin" and 39 that include "cryptocurrency." And there are likely a few that have a differently-named assignee.
On broader cryptos, he had this to say:
"We can't get in the middle of this," he said. "We don't trade it, we don't have anything to do with it, because that's really up to people to make that decision, we're not going to participate in it."
