US Patent Issued to Bank of America on Jan. 13 for "Opt-in distributed ledger consortium" (North Carolina, Pennsylvania, Florida Inventors)

ALEXANDRIA, Va., Jan. 13 -- United States Patent no. 12,524,818, issued on Jan. 13, was assigned to Bank of America Corp. (Charlotte, N.C.).

"Opt-in distributed ledger consortium" was invented by Yogi Ahuja (Warwick, Pa.), Mardochee Macxis (Concord, N.C.), Monika Kapur (Jacksonville, Fla.), Albena Fairchild (Indian Trail, N.C.) and Utkarsh Raj (Charlotte, N.C.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Apparatus and methods for an opt-in distributed ledger consortium to detect and prevent fraudulent transactions are provided. Two or more entities may opt into a private distributed ledger. A program may receive financial transaction information. The program may record the transaction on the distributed le...