Citi, one of the largest financial institutions in the world, has filed a patent for a system that utilizes a double-layer restriction subnet architecture on the Avalanche blockchain. The system aims to overcome the technical limitations of conventional blockchains and their subnets. Citi's architecture is made up of permissioned subnets, combining the security and privacy benefits of permissioned blockchains with the scalability of subnet efficiency. The goal is to address the challenge of unauthorized access to digital communication by third parties. Citi's patent application builds on its previous work on Avalanche, where it tested the tokenization of private equity funds.



Other News from Today