Topic: Bank of America getting into crypto - page 2. (Read 331 times)
The question is - will they use it, or just try to block new services and charge them royalties to operate such a system.
Good news for us. The bitcoin will become more popular and the price will be increased soon. Just hold it then we will be rich. 
Crypto currency has a number of useful properties, which can be considered using the most popular of them, bitcoin. Here are the key positive differences bitcoin from the usual money that you see in your Internet bank.
Bitcoin made a real success in the financial industry - in 2013 its price exceeded $ 1000, and despite a subsequent significant decline, in 2017 returned to the same mark. This week bitkoin updated new records and passed a mark of $ 1510. Bitcoin began to appear and other currencies - their number has already exceeded 200 and is constantly growing, but 85% of the world's total crypto currency is still bitcoin.
It's just a matter of time now until banks figure out how much potential cryptocurrencies have. What we need now is for governments to take a step forward as well and start looking at how bitcoin should be legalized for good. Because if big banks are in the game as well, the governments will have to address this as soon as possible.
That's a really big news which you have just shared. BA is even bigger than the CME group and if they enter the crypto market, we will see a huge positive impact on the market. Since only the patent is received, the main system will take some time to become a reality, but you can expect a few billions of dollars more pouring in to the system. What I understood from the article that BA is planning to provide a checking account service for the crypto currency as well as an exchange platform. It will certainly increase the liquidity and credibility of the crypto market and provide more visibility to masses. The last quarter of 2017 was crazy for crypto market and I believe, we are going to experience the same in 2018 as well.
Bank of America just won a patent to develop a crypto exchange system. Here is a short extract about what the patent states: Enterprises may handle a large number of financial transactions on a daily basis. As technology advances, financial transactions involving cryptocurrency have become more common. For some enterprises, it may be desirable to exchange currencies and cryptocurrencies.
The proposed system — which is, at present, only a patent and not yet a fully realized system — has three facets: the customer’s account, and the two businesses running the system. Like money in a traditional checking account, the customer would store their cryptocurrency in an account. The second account would hold currency to be sold, and the third would contain the currency the customer is converting to.
It's definitely not a surprise that more of the major financial actors want to get somehow involved in cryptocurrencies. I would expect both pure crypto companies and financial actors working more closely together in the near future, not exclusing M & A either since the market needs both type of companies.
Here is the link to the article I was refering to: https://futurism.com/bank-america-wins-patent-crypto-exchange-system/
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