Bank of America to Secure Patent for New Multi-Tiered Crypto Wallet

… the institution is looking to patent a new kind of cryptocurrency wallet with specific security details, allowing measured and restricted access to funds, …

Charlotte-based Bank of America, the second biggest bank in the U.S., is no stranger to Blockchain technology and is taking things a notch higher in the sector. According to a publication from the United States Payment and Trademark Office (USPTO), the institution is looking to patent a new kind of cryptocurrency wallet with specific security details, allowing measured and restricted access to funds, at different levels. The filing mentions the bank’s Senior Tech Manager, Manu Kurian, as the wallet’s creator.

The publication is titled “Multi-Tiered Digital Wallet Security” and even though recently published, was first filed in February last year. It details a type of wallet with varied levels of security, powered by a peer-to-peer network. The fully decentralised network would support a wallet which would require several passwords for several levels of access. Basically, one password can be used to access level one but will not give access to level two until the level’s corresponding password is entered. This is a tad similar to some multi-sig wallets that are currently available. The wallet is to will boost security as it only allows restricted access to funds, per level.

According to the filing:

“Through the digital wallet interface, a user…may be able to partition digital currency holdings into one or more differentiated storage compartments or tiers. Each of the one or more compartments may be password secured and may only permit access to the amount of digital currency holdings specified by the user.”

Bank of America has other Blockchain related filings including systems for regulation as well as for data storage and general system performance.

Image Credits: Stock Photo Secrets

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Crypto Wallet ZenGo Now Supports Facebook’s Libra Testnet

On Aug. 18, the developers of ZenGo, a non-custodial keyless cryptocurrency wallet solution, announced that their app now supports Facebook’s Libra …

On Aug. 18, the developers of ZenGo, a non-custodial keyless cryptocurrency wallet solution, announced that their app now supports Facebook’s Libra testnet.

Experimenting with Libra

According to the announcement, now users “can send and receive Facebook’s new cryptocurrency, Libra, just like any other cryptocurrency in ZenGo.” The developers also noted that the “testnet funds don’t hold any real value and are only for testing purposes.” The post explains:

“If you would like to experiment with Libra, you can turn on Libra testnet from the Account tab in the wallet. Once you turn on the feature, make sure your wallet is backed up, and we’ll send you your first Libra. Facebook is developing its own wallet Calibra, but it’s not publicly available yet. When it does become available it will be a custodial wallet, meaning that Facebook will have full control over the funds stored in it. But that will not be the only option. That’s why we’re offering Libra in ZenGo a non-custodial that people will have the option to choose.”

Still in the testing phase

The team at ZenGo also warned that Libra’s testnet is still in the experimental phase. Therefore, it could be periodically reset for maintenance and upgrades, at which point “all the data on the network gets reset along with all transaction history and balances.”

Currently, ZenGo app is only available on the iOS platform. The wallet also allows users to buy Bitcoin, Ethereum and Binance Coin with their credit cards or Apple Pay.

As Cointelegraph previously reported, ZenGo wallet aims to eliminate the need for storing private keys by using a key-like solution that is distributed among multiple parties, rather than existing as one string of characters.

At the same time, David Marcus, the head of Calibra at Facebook, emphasized that Libra users will not have to put their trust in Facebook.

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Samsung Secretly Adds Bitcoin Support to Blockchain Keystore

Samsung, the world’s biggest smartphone and memory chipmaker, has secretly added Bitcoin (BTC) support to its cryptocurrency wallet (blockchain …

Samsung, the world’s biggest smartphone and memory chipmaker, has secretly added Bitcoin (BTC) support to its cryptocurrency wallet (blockchain Keystore), according to the latest info on the company’s official website.

As with most cryptocurrency wallets out there, you are now able to receive, send or store Bitcoin on the wallet.

The addition of Bitcoin to Samsung’s wallet could mean millions of people are introduced to the flagship cryptocurrency. This could give a surprise boost to the adoption of Bitcoin and other crypto-assets.

Apart from Bitcoin, the wallet has also added support to Klaytn, a new cryptocurrency launched on June 27, 2019, by a South Korean internet company Kakao.

According to the site, Samsung’s cryptocurrency wallet is available for Galaxy s10, Galaxy s10e, Galaxy s10 Plus, Galaxy s10 5G, Galaxy Note 10 Plus and Galaxy Note 10 – across six countries: The United Kingdom, the United States, Germany, Canada, Switzerland, Spain, and South Korea.

The wallet included support for many popular virtual currencies, including Ethereum, ZRX, OmiseGO, Augur, Maker, and Basic Attention Token. Surprisingly, it didn’t support Bitcoin (BTC), the world’s largest cryptocurrency by market cap.

Blockchain Keystore

Samsung’s blockchain Keystore was officially launched in July this year as part of the company’s dApp Software Development Kit, which offers backup, account management, payment, and digital signature facilitation. In other words, Samsung blockchain Keystore is designed to help developers to manage blockchain accounts easily.

It goes without saying Samsung has been taking great strides toward to the cryptocurrency and blockchain industry. The tech firm has been proving its intent and determination to embrace new disruptive technologies to the fullest by endeavors such as this.

Samsung is not the only phone manufacturer that has offered blockchain devices in the past few months. Sirin and HTC are other tech companies that have also woken up to the fact that smartphone users yearn for cryptocurrency integration.

Image source: Flickr

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Samsung’s Cryptocurrency Wallet Quietly Adds Bitcoin Support

Samsung’s cryptocurrency wallet, the Blockchain Keystore, has added support for the flagship cryptocurrency bitcoin according to updated information …

Samsung’s cryptocurrency wallet, the Blockchain Keystore, has added support for the flagship cryptocurrency bitcoin according to updated information on the South Korean giant’s website.

As first reported by The Block, the company’s cryptocurrency wallet now seemingly supports the Ethereum network, as well as bitcoin and Kakao’s native Klaytn blockchain. The South Korean tech giant didn’t issue an official announcement, which could mean in the future it’ll add support for more cryptocurrencies in a similar way.

The support is, however, limited to a few mobile devices in its range. Currently Samsung’s flagship devices, the Galaxy S10, S10+, S10 5G, and S10e, as well as the newly launched Note 10 and Note 10+, have the cryptocurrency wallet.

Samsung's website listing crypto support

The Blockchain Keystore is also restricted to only seven countries – Canada, Germany, South Korea, Switzerland, Spain, the United Kingdom, and the United States. Samsung’s website notes in a frequently asked questions section that other devices aren’t able to simply install the Blockchain Keystore, not even through its Galaxy app store. It reads:

Samsung Blockchain Keystore is preloaded on selected devices only. If your device is not supported, then you won’t be able to find it in the Galaxy Store either.

The South Korean giant has, however, revealed it’s set to add its cryptocurrency wallet to budget Galaxy smartphones in the future. Samsung first filed a trademark application for a crypto wallet in December of 2018, and has since been slowly entering the crypto and blockchain space.

In April of this year it invested $2.9 million in cryptocurrency hardware wallet startup Ledger.

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Atomic Wallet, FIO team up for decentralised wallets

Atomic Wallet is a universal cryptocurrency wallet with decentralised atomic swap exchange, which supports any ERC20 and BEP2 tokens with …

Atomic Wallet has joined the Foundation for Interwallet Operability (FIO) in a move to increase convenience for existing crypto users.

Another goal of this partnership is to accelerate mass adoption of cryptocurrencies. Atomic Wallet joins a consortium of 24 other wallets and exchanges in the crypto ecosystem, including Enjin Wallet, Binance’s Trust Wallet, BRD Wallet, ShapeShift, MyCrypto, Edge Wallet, and Coinomi Wallet.

The FIO Protocol is a decentralised service layer that enables several usability features across any blockchain, token or coin. This includes functionality that puts an end to the need for a 64-character gibberish alphanumeric string to transfer crypto, integrated request for payment workflow that virtually eliminates errors when sending crypto, and standardised metadata that provides context for the purpose of a transaction. Future roadmap items include subscription billing, multi-signature routing for security, and cross-wallet data visibility.

Atomic Wallet is a universal cryptocurrency wallet with decentralised atomic swap exchange, which supports any ERC20 and BEP2 tokens with around 100 – 200 cryptocurrencies in a default list, and is available across all operating systems, including Windows, macOS, Ubuntu, Fedora, and Debian. Atomic Wallet’s decentralised Atomic Swap Exchange allows users to proceed with cross-chain exchanges while avoiding third party risks. Moreover, its encryption and custody-free solution means that private keys are encrypted and never leave a user’s device.

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