Bank of America Wins Patent for Crypto Exchange System

Crypto Exchange

As cryptocurrencies like Bitcoin continue to rapidly rise in value, countries around the world are beginning to take the cryptocurrency more seriously. In the United States, the second largest bank in the nation, Bank of America, has just won a patent for a crypto exchange system, which they intend to develop for corporate clients. The system would theoretically be able to easily convert one digital currency into another while establishing the exchange rate between those two currencies based on external data.

The patent states that:

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.

Going Digital

Making cryptocurrency so readily accessible and convertible could truly change the nature of crypto transactions. While currencies like Bitcoin are rapidly rising in value, there are some that fear the currency isn’t inherently valuable. Additionally, it’s not yet a widely accepted currency, so at the moment uses outside of online transactions and investment are somewhat limited.

Technology that simplifies the conversion of digital currencies will make them not only easier to use but ideally will further legitimize cryptocurrencies in general.

Of course, not everyone supports the mainstream adoption and incorporation of crypto by big banks. Then there are places like Catalonia setting interesting precedents for cryptocurrency use — the region is considering adopting crypto instead of a central bank. Whether or not you agree with the increasing presence of crypto, Bank of America’s latest move shows that it’s not going away anytime soon.

The post Bank of America Wins Patent for Crypto Exchange System appeared first on Futurism.


Apple wins a trademark lawsuit against Xiaomi in Europe

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Apple Wins Original Drama Starring Jennifer Aniston, Reese Witherspoon

Apple is hard at work at developing original TV content. And, out of the gate, one of those programs will be a “morning show drama” starring Jennifer Aniston and Reese Witherspoon, according to a new report.

Reportedly, Apple was said to be in a “bidding war” for the untitled series back in September. Now, it seems that Apple has emerged the victor, beating out competitors like Netflix and Showtime. The company has inked a deal for two 10-episode seasons of the TV show, according to a story published Wednesday by The Hollywood Reporter.

The two actors will start, executive produce, and co-own the upcoming series, along with production company Media Res. The program, which delves into the “cutthroat world” of morning TV, was written by Jay Carson, a screenwriter known for his work on Netflix’s own original series, “House of Cards.”

Aniston and Witherspoon will star as morning talk show hosts in the drama series, which is described as an “inside looking at the lives of the people who help America wake up in the morning, exploring the unique challenges faced by women (and men) who carry out this daily televised ritual.”

The drama program is the second Apple series that’s reportedly in development. In October, Apple negotiated a deal with Amblin Television and NBC Universal to create new episodes of Steven Spielberg’s “Amazing Stories,” which originally ran on NBC from 1985 to 1987.

The new shows will join Apple’s two existing original TV programs, “Planet of the Apps” and “Carpool Karaoke: The Series” — both of which air exclusively on Apple Music. At this point, it’s currently unknown whether Apple will keep its original intent limited to the music streaming platform in the future, or if it will make the content available via other outlets such as iTunes.

Apple’s ambitions in Hollywood have been well-known for some time. Back in June, the company hired former Sony executives Zack Van Amburg and Jamie Erlicht — known for their work on “Breaking Bad,” “Better Call Saul” and “The Crown — to spearhead its aggressive push into original content. In September, a report that detailed Apple’s presence in Hollywood suggested that the company has since been “inundated” with potential shows and spec scripts, and was looking to produce high-end, “prestige” TV content.

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