The Chief Technology Officer at Bank of America, Cathy Bessant, believes blockchain is a technology that includes various potentials and yet it is full of sound and fury, The Block reports.
Bessant says she believes that there are use cases that make sense today. The bank "has yet to find them at scale in financial services," she highlighted.
"We’re experimenting heavily. We have more patents than any other financial institution in the blockchain space, but have yet to find something that makes a difference for our clients or our customer," added Bessant.
Bank of America is known as one of the most active financial organizations that register different devices in the sphere of distributed ledger technology. For instance, last year the bank registered on The U.S. Patent and Trademark Office (USPTO) a blockchain-related patent which can be described as a device that may improve cash handling.
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