TD Bank Seeks Patent to Track Payments on Public Blockchains

North American financial giant TD Bank is planning on potentially using Bitcoin’s underlying technology to digitally track assets on the public ledger.
Banking on the Blockchain
According to a United States Patent Application made public on March 29th, North American banking giant The Toronto-Dominion Bank is interesting in using a public distributed ledger to help track transactions via point-of-sale computers.

Specifically, TD Bank’s patent application outlines “an apparatus for use in a digital asset tracking system includes a storage device and a processor coupled to the storage device.” According to the application’s abstract:
The storage device stores software instructions for controlling the processor that when executed by the processor configure the processor to receive a signal representing a request comprising a first transfer from a first digital container associated with a first client to a second digital container associated with a second client. A value of the first transfer is compared to a total value in one or more accounts associated with the first client. At least one of the one or more accounts associated with the first client has a value in a first currency. A first draft is …

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