The Bitcoin Patent – Only A Matter Of Time?
Bitcoin is a technological marvel that has revolutionized financial systems. The birth of bitcoin came in 2008 in a paper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System" by the pseudonymous Satoshi Nakamoto. The genesis block – the first block of transactions – was created the following year, and the network has continued ever since. Given that no person (or group) has credibly claimed authorship of the 2008 Nakamoto paper or the bitcoin transaction method it describes, not surprisingly, no patent based on that original work has appeared. However, that does not stop us....
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With so much blockchain technology publicly disclosed already, many are wondering, "How can we get a patent on a blockchain system now?" In a previous article, we explored whether Satoshi Nakamoto could have patented bitcoin and whether such a patent would have survived an eligibility challenge. But regardless of whether a viable bitcoin patent exists, both Nakamoto’s 2008 article describing the bitcoin system and the bitcoin network in operation since 2009 qualify as "prior art" against any new attempt to patent a blockchain system. There are a few legal and practical....
Sony Interactive Entertainment has published a patent that has been released this month that could potentially pave the way for PlayStation users to bet on competitive esports events with bitcoin. Let’s take a look at the patent and what it all means. Sony’s Patent The firm’s patent is titled “E-sports Betting Platform”. While the patent […]
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, […]
What would an approved patent for a physical Bitcoin mean for the Bitcoin community? Douglas Feigelson, the founder of BitBills, filed a patent with the United States Patent and Trademark Office (USPTO) on December 23, 2011. Just last Saturday, June 27, 2013, the USPTO processed Feigelson's application and entitled the application for a patent as, "Creating and Using Digital Currency." There is much concern within the Bitcoin community that such a patent, if approved, could potentially restrict further hardware Bitcoin wallet development. "Let's Talk Bitcoin,"highlightedthe connection....
The world’s largest provider of cryptocurrency payment services, Bitpay has announced the company is joining the Square-founded crypto patent effort the Crypto Open Patent Alliance (COPA). Bitpay has been working with blockchain products since 2011 and the firm will share open-source projects and use a shared patent library with the crypto patent organization. Bitpay Joins Crypto Patent Effort COPA The Atlanta-based cryptocurrency payment and blockchain company Bitpay is joining forces with COPA. The Crypto Open Patent Alliance was originally invoked by Square, Inc., and the....