Bank of America had 18 patents in ecommerce during Q3 2023. Bank of America Corp filed several patents during Q3 2023. One patent focuses on assessing the resource volume of physical objects stored in a secure container and generating Non-Fungible Tokens (NFTs) based on digital images of the objects. Another patent involves a situationally aware mobile device that provides intelligent recommendations and information about nearby products. There is also a patent related to managing invoice processing using blockchain and mixed reality applications. Additionally, there is a patent for a system that uses machine learning processing and distributed architecture for data processing. Lastly, there is a patent for tracking and tagging communication using electronic non-fungible resources within a distributed network. GlobalData’s report on Bank of America gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Bank of America grant share with ecommerce as a theme is 56% in Q3 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Implementing non-fungible tokens and a distributed trust computing network for purposes of assessing resource volume of contents stored in a secure container (Patent ID: US20230274260A1)
The patent filed by Bank of America Corp. describes a system and method for intelligently assessing the resource volume of physical objects stored in a secure container. The system includes a secure container with physical objects, an image-capturing apparatus to capture digital images of the objects and evidentiary artifacts, and a computing platform with memory and processors. The system uses object recognition algorithms to identify the physical objects in the images and determine an initial resource volume based on the evidentiary artifacts.
The system also includes a distributed trust computing network with decentralized nodes and a distributed register. The network certifies the authenticity and integrity of data stored in the register. The network's nodes execute a resource volume assessment engine to determine the current resource volume for the physical objects based on factors such as demand and evaluations by resource advancement entities. Non-Fungible Tokens (NFTs) are generated using the digital images and initial resource volume as inputs. The NFTs are stored in the distributed register as data blocks.
The system further includes a resource advancement submission and determiner engine, executed by nodes of the distributed trust computing network, to receive resource advancement submissions from decentralized nodes associated with resource advancement providers. The engine determines a resource advancement provider based on the submissions. A resource advancement issuance engine provides the resource advancement to an entity with an interest in the physical objects and issues necessary artifacts to the provider and the entity.
The method for assessing resource volume involves capturing digital images of the physical objects and evidentiary artifacts, using object recognition algorithms to identify the objects and determine an initial resource volume. The method also involves determining the current resource volume based on factors such as demand and evaluations by resource advancement entities. The method can be executed by computing processor devices and can involve the use of a distributed trust computing network and the generation of NFTs.
Overall, the patent describes a system and method for assessing the resource volume of physical objects stored in a secure container using digital images and evidentiary artifacts. The system leverages a distributed trust computing network and NFTs to facilitate resource advancements based on the current resource volume.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
