In one big step for banks and blockchain, the second largest U.S. bank has commenced with hiring for blockchain positions. Bank of America’s (BOFA) blockchain push only feels a natural next step forward after their filings for over 75 patents (as of August, 2019), and a bit “slow to the roll” in comparison to other major banks (i.e. J.P. Morgan, Deutsche).
BOFA’s recent blockchain hiring spree has seen the likes of payment technology architects, banking regulatory domain architects, and treasury managers in demand, specifically out of their Charlotte, North Carolina branch. Each job description has elicited a call for previous blockchain experience and ability to implement it into the context of banking.
Additionally, a two-month-old product manager job description on LinkedIn lists “managing the Ripple product and developing capabilities for further growth,” along with provision of subject-matter expertise on Ripple.
BOFA Blockchain Job Description
Other key responsibilities include:
“Work with business partners in product management, channel management, marketing, legal, technology, etc to launch new alternative payment functionality, as well as enhancements to existing functionality.”
“Engage with regional partners to develop appropriate expansion strategies and related business cases for the Ripple product.”
The takeaway? BOFA seems quite pro-Ripple at the moment.
Funnily enough, these blockchain positions come hot off the March heels of when BOFA’s CTO, Cathy Bessant, expressed a bearish attitude towards blockchain and that the key intention of BOFA’s blockchain patents was to secure their spot at the forefront should the necessity to use it arise.
Back in March, Bessant so infamously stated, “What I am is open-minded…In my private scoreboard, in the closet, I am bearish.”
With their filing of over 75 blockchain patents in the past two years, it wouldn’t be surprising if that “necessity” was now (or coming shortly) – they actually boast the most patents for blockchain technology of any financial service companies at the moment.
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