Craig Wright vs Jamie Dimon Kicks Off as CSW Says He Holds Patent for What JPM Coin Will Offer
Craig Wright, the Chief Scientist at nChain and Bitcoin SV (BSV) supporter, says that the JPM Coin proposed by JP Morgan requires a technology that has been patented by him. Just a few days ago, JP Morgan released a project to issue a new coin aimed at processing cross-border transactions and settlement between financial companies.
This JPM Coin is the first virtual currency proposed and launched by US Bank that is completely backed by the US dollar. The new coin will be tested in a few months and it will be used to process payments between clients.
In a recent tweet, Craig Wright wrote that what JP Morgan wants to do is already patented. He then provided more information about the patent in another tweet.
The link provided by Mr. Wright directs to a patent titled: Systems and Methods for Implementing Deterministic Finite Automata (DFAS) Via a Blockchain: https://t.co/982SC2VdTo
The patent makes reference to a technique that implments, controls and automates a task process on a blockchain such as 00. This patent is suited for automated execution of contracts 00 such as smart contracts for financial agreements.
Wright answered on Twitter that the patents are related to the JPM Coin mentioning that the bank’s project is related to DFAs.
The patent explains what a DFA is:
“A DFA is a mathematical model of computation conceived as an abstract machine which can be in one of a finite set of states, and can change from one state to another (transition) when a triggering event or condition occurs.”
During the last week, Wright has been called a “Serial Fabricator” by the Julian Assange-run organization WikiLeaks. Wright has criticized WikiLeaks on several occasions in the past.