BY CNA Team - October 31, 2018
BofA patents cryptographic storage device
Traditional financial institutions continue to dip their toes into the crypto space, as Bank of America’s (BofA) latest patent for a device storing cryptographic keys reveals.
The patent, which was awarded on Oct 30 by the US Patent and Trademark Office, is for the invention of systems and devices for hardened remote storage of private cryptography keys used for authentication.
The abstract to the patent explains that the storage device “is tamper-responsive, such that receipt of a signal that indicates physical or non-physical tampering with the storage device or its components results in deletion of the private cryptography key(s) from the memory”.
BofA noted that while there are many storage devices providing for various security features including evidence of a security breach, such devices do not provide for a real-time response to such breaches that can prevent the stealing of private cryptography keys.
It says that there is a need for a secure means of storing such keys and that the desired storage should reduce the risks when being stored internally within a computing node that is accessible through a public communication network such as the internet.
“Moreover, the desired storage means should provide for real-time responsiveness to tampering, such that misappropriation of the private cryptography keys is prevented,” it adds.
The patent explains that the BofA storage device is configured to be separate and remote from a computing note that executes an authentication routine requiring private cryptography keys and that these keys are accessible to but not communicated to the computing node only when the node is executing the routine.
Image courtesy of Bank of America’s (BofA) website.