The Looming War for Blockchain Patents
There’'s a patent land grab developing in the blockchain space that could potentially make doing business more challenging for those who want to build upon the open-source technology in the future. “Everyone is trying to stake their claim and plot out their business strategy,” said Ted Mlynar, a partner in the intellectual property practice at Hogan Lovells in New York. According to Mlynar and his colleague, Ira Schaefer, there are a lot of patents pending related to bitcoin, cryptocurrency, blockchain and distributed ledgers. Publicly available records show the strong interest in filing....
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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....
In addition to the previous 15 blockchain patents filed, Bank of America is now trying to patent some of the uses of the Bitcoin technology, writing a draft of 20 more patents to be sent to the U.S. Patents and Trademark Office by the end of this month. So, it seems Bank of America is trying to take control over the Blockchain by getting 100% of the patents covering Blockchain technology. And this path was shown a year ago by Coinbase too. In fact, some months ago Coinbase filed patents for most of the aspects of the Bitcoin marketplace, including: Hot wallet for holding bitcoin, User....
In addition to 15 previously filed blockchain-related patents, Bank of America is now reportedly drafting up another 20 patents that will be submitted to the US Patents and Trademark Office (USPTO) later this month. While numerous reports from regulators, settling houses and even governments talk up the potential of Bitcoin’s underlying technology – the blockchain, Bank of America (BOA) is trying to get ahead in the blockchain space as one of the few big financial institutions actively filing patents related to crypto technology. Speaking to CNBC, a spokesperson for the bank revealed that....
Recently Bitcoin.com reported on the multinational financial services firm Mastercard releasing blockchain APIs. Now the payment processing company is filing for four blockchain patents. Mastercard Files Patents for Blockchain-Based Settlement. Mastercard is taking the blockchain phenomenon very seriously. Just a few weeks after revealing its....
IBM’s partner IPwe will tokenize patents as non-fungible tokens (NFTs), according to a press release. The company will build an infrastructure to store the NFTs. The objective is to improve the way patents are traded. IPwe hopes to “bring new liquidity to this asset class for investors”. Hosted on IBM Cloud, IPwe’s platform operates as […]