Bank of America hints at hiring a Ripple specialist
10 Oct 2019
The second largest bank in the U.S. has allegedly recruited a specialist to implement blockchain-based payment network, Ripple.
Bank of America has now stopped accepting applications for a so-called “treasury product manager” for Ripple, according to a job description on LinkedIn.
The job description states: “This role leads the product management team for the Ripple Project, a decentralized ledger technology based solution to cross border payments marketed to GTS clients,” adding: “The incumbent will be responsible for driving product strategy and growth, overseeing daily product management routines, and overseeing the development of new initiatives that result in an innovative and highly-competitive product offering.”
The move indicates that Bank of America is joining the rising number of banks contemplating Ripple.
Furthermore, the bank filed a patent in relation to the technology back in July. At the time Coin Telegraph reported: “The patent in question — the application of which was published on June 6 — describes a system using distributed ledger technology (DLT) as an interbank communication tool. The proposed system would enable real-time settlement with transactions being communicated through a shared, decentralized ledger to which both the banks would have access.”
Despite an initial hostility towards cryptocurrency in the past, Coin Telegraph previously reported that Bank of America submitted a patent for a digital currency wallet in August: “Per the filing, this technology would comprise a computing platform with a digital wallet interface. The platform would be configured to operate within a peer-to-peer network for blockchain management — which could potentially be public or private.
“The application points to Bitcoin and Ether as examples of digital currencies that are increasingly gaining attention, and — per the filing — driving the need for better wallet infrastructure.”
Bank of America also became part of R3’s Marco Polo blockchain trade platform last month.
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