Blockchain companies can’t afford to stay on the patent sidelines
If blockchain companies continue to neglect to acquire patents, they will struggle to convert their ideas into commercial success. Twitter plays defense with its patents, Square has launched a consortium — which includes Coinbase — to pool crypto patents and Alibaba is well on its way with its mission to overtake IBM in the blockchain patent wars. Many startups don’t take the necessary steps to protect their innovations, and that’s a big mistake. Particularly in blockchain, an open-source philosophy embedded in the space makes many entrepreneurs eschew the competitive, territorial....
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Amazon. AT&T. Bank of America. Goldman Sachs. IBM. JPMorgan. Mastercard. R3. Western Union. Verizon. These are just a few of the corporations which have filed blockchain-related patent applications worldwide. But, what about bitcoin-specific patent applications, not blockchain? Bitcoin Can’t Be Patented. Because Satoshi Nakamoto published the Bitcoin....
Xiaomi, one of the biggest mobile phone and tech companies in the world, has introduced a patent that implements blockchain technology for the creation of its own virtual characters. The patent, introduced in China, mentions that the creation of these characters will be randomized thanks to the introduction of a gene sequence, responsible for determining the looks of the character.
Xiaomi Introduces Blockchain in Character Generation Patent
More and more industries are including blockchain as part of their new products due to its decentralized and immutable traits. Xiaomi, a....
Goldman Sachs has submitted a patent application focusing on how blockchain could cut out the middle man with transaction costs, claiming that the technology could change the current process. The patent, “Systems and Methods for Updating a Distributed Ledger-Based on Partial Validations of Transactions”, which was published on September 8 by the U.S. Patent and Trademark Office (USPTO), was initially filed in March 2015, making it Goldman Sach’s first blockchain focused patent. Banks Turning to Blockchain. Since the introduction of bitcoin, banks have slowly been turning their attention to....
With the new blockchain industry growing, the rise of filing patents has become a seemingly necessary step for people starting new projects, with entrepreneurs and developers worried about patent trolls locking them out of their own ideas. A Vast Array of Patents Surround Blockchain Technology. Over the past couple years, filing patents has become a norm....
VeChain Global Technology has petitioned for a patent with the U.S. federal agency Patent and Trademark Office (USPTO). Filed on April 22nd, 2021, the application seeks to register methods, devices, blockchain nodes, and a system for carbon recording and trading, per the document published by the agency. The patent has been attributed to Jianliang Gu, […]