We Haven’t Found a Blockchain Use Case in Finance

Catherine Bessant, chief technology officer at Bank of America, admitted that the institution has yet to find blockchain use cases for the financial services sector. Bessant made her comments during an interview with Bloomberg published on May 14. Speaking to Bloomberg, Bessant said that — while she believes this technology to hold a lot of […]

Android Malware Targets Users of 32 Crypto Apps, Including Coinbase, BitPay

A new strain of Trojan malware for Android phones is targeting global users of top crypto apps such as Coinbase, BitPay and Bitcoin Wallet, as well as banks including JPMorgan, Wells Fargo, and Bank of America. The news was reported by technology news outlet The Next Web on March 28. Based on research from prominent […]

BOA Tech Chief Says Blockchain Technology May Amount to Nothing – BTCMANAGER

Cathy P. Bessant, chief operations and technology officer at the Bank of America (BOA), a multinational investment bank and financial services firm, has opined that blockchain technology has no significant use case in finance and could amount to nothing in the near future, reports CNBC on March 25, 2019. Bessant Not Confident in DLT Despite […]

I’m Privately Bearish on Blockchain

A senior executive at Bank of America (BoA) is not bullish on blockchain despite the bank holding more patents than any other finance firm, CNBC reported on March 26. Speaking to the publication in an interview, chief technology officer Catherine Bessant said that even though the bank’s official stance on the technology was palpably buoyant, […]

Craig ‘Satoshi’ Wright Claims to Have Filed 666 Blockchain Patents

The race to file blockchain patents has accelerated lately with one specific firm, Nchain Holdings, attempting to capture hundreds of distributed ledger-related patents. According to reports, self-proclaimed Satoshi – Craig Wright – and his Nchain business claim to have filed 666 patent applications to date, capturing a gigantic portfolio of intellectual property. Also Read: Jeff […]

How the World’s Leading Banks Help Launder $2 Trillion a Year

Some of the most well known banks in the world are also the biggest money launderers. The recent Troika Laundromat affair added another $8 billion to the trillions financial institutions wash every year. Over $2 trillion is laundered annually by criminals who utilize various ways to hide money in banks, which are often complicit or […]

While Dow Surges, This Key Metric Reveals Professional Investors are Calling the US Stock Market’s Bluff

The Dow and wider US stock market raced higher on Wednesday, adding to Tuesday’s mammoth 372 point gain. Dow Builds on 372 Point Rally Traders are excited that efforts are underway to avoid the government shutdown. While that was good news, investors were particularly enamored with news over China tariff negotiations. This was based on some […]

The Daily: UFC 232 to Have Official Crypto Partner, 5% of Israelis Use Bitcoin

The Daily In today’s edition of The Daily we feature the latest sports sponsorship by the cryptocurrency community. We also cover stories about new statistics on bitcoin usage in Israel, mining malware growth during 2018, and another bank blockchain patent. Also Read: Investment Robo-Adviser Wealthfront Adds Support for Coinbase UFC 232 to Have Official Cryptocurrency Partner […]

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. Originally submitted in June 2017, the patent references “banking systems controlled by data bearing records.” “Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and […]

Bank of America Patent Details How Enterprises Could Store Crypto

A patent awarded to the Bank of America outlines how enterprise-level institutions may be able to store cryptocurrencies owned by their customers. The filing, awarded by the U.S. Patent and Trademark Office Tuesday, contends that large companies – specifically enterprise-level institutions – may want to store cryptocurrencies for customers should they see wider adoption. There is […]