As Blockchain Patent Wars Escalate, nChain Hires a Lawyer to Protect Its Numerous DLT Patents

The patent war is a “battle” between corporations or individuals to secure patents for litigation, whether offensively or defensively. There are ongoing patent wars between the world's largest technology and software corporations. The occurrence of patent wars has been shaped by the digital age, as the rapid pace of innovation makes much of the patent system obsolete.

Businessweek had famously written, “only lawyers win patent wars.” nChain is aware of it and is seeking to hire a Lawyer to protect its patents. Earlier this month, BitcoinExchangeGuide had reported that nChain’s Craig Wright has apparently applied for a whopping 114 blockchain patents since the start of 2017.

The job advertisement for the opening states:

“The Patent Counsel role is a unique opportunity to help build one of the leading patent positions in the blockchain space (nChain is currently in the top 5 of patent applicants) and put it to use in support of nChain’s commercial objectives. The role would suit a recently qualified patent attorney in private practice who would like to experience working in-house, a team small enough to provide broad exposure to, and significant responsibility for creating and exploiting commercially valuable IP assets.”

It is worth pointing out that between August 2017 and March 2019, the World Intellectual Property Organization (WIPO) has “published 155 patent applications” — out of which 114 have been filed by Wright.

A large amount of filings begs the question: Why do nChain Holdings and the self-proclaimed Satoshi Nakamoto need so many patents? According to nChain, intellectual property (IP) is being obtained to protect the technology. In the second quarter of 2018, when Mastercard had acquired a patent to secure the rights of a product that facilitates anonymous cryptocurrency transactions, Coingeek’s Calvin Ayre stated:

“This is precisely why Nchain has to go the patent route … to protect technology they invent to release open source.”

With Visa, Mastercard, Bank of America, and Nchain, the range of patent applications lodged today is quite wide. Many cryptocurrency fans believe that patents are part of a strategic move to threaten developers, startups and smaller firms for years to come.

Patents are intended to protect intellectual property and encourage innovation, granting innovative companies a temporary competitive advantage over their rivals; however, patents have been used offensively through threats of litigation. This forces companies to allocate time and money that could have been better spent on research and development.

Today's Bitcoin (BTC) Price Analysis with Top Altcoin Predictions: Ethereum (ETH), Ripple (XRP) and NEO

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Sritanshu Sinha
Sritanshu Sinha
Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,469FansLike
2,795FollowersFollow
4,232FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

Dapper Labs Raises $12M with NBA Players from the Brooklyn Nets & Miami Heat Participating

Vancouver-based Dapper Labs has raised $12 million in its latest financing round with additional backing from Coinbase ventures and Distributed Global. Its existing investors...

DeFi App Aave Creates First Credit Delegation Loan to DeversiFi Decentralized Exchange

DeFi lending platform, Aave completes its first-ever ‘credit delegation’ as DeversiFi borrows over $230,000 without posting collateral. The service agreement was signed on...

Bitcoin Futures Trading at a High Premium; Already Hitting $12,000 on CME

Bitcoin has yet again gained momentum, with people expecting for $12k to hit soon. According to analyst Mati Greenspan, for a sustainable rally, a...

Polkadot (DOT) Launches The First Parachain Implementation Testnet, Rococo

Polkadot introduces parachain functionality with Rococo testnet, a Proof of Authority (PoA) network, allowing users to send direct messages to the Relay Chain and...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today