Google’s License On Transfer (LOT) Network Welcomes Peer Mountain Blockchain
Welcome the 259th Member of the LOT Network: Peer Mountain
The License On Transfer (LOT) Network is made up of a joint group of companies that helps protect other members from patent assertion entities (PAEs). Recently, Peer Mountain became the 259th member to join. As a new member, they automatically agree to provide other members with a license to any patent that a PAE requires. The approval comes at no cost and is instantaneous.
Over the last year alone, the LOT network has experienced a surge in new companies to join their efforts. Specifically, they have added Yum!, Oracle, Volkswagen, Vizio, Salesforce, Tesla, eBay, Cisco, Alibaba, Amazon, Daimler, and another 80 companies that are only in the beginning stages of their business.
After this partnership was announced, Marc Kaufman, who is the co-founder of the Blockchain IP Council, said:
“Patent filings related to blockchain technology have increased tremendously over the past several years. Many of these patents are likely to end up in the hands of patent assertion entities, sometimes referred to as ‘patent trolls.’ LOT provides a mechanism whereby members are substantially protected from patent assertions by patent assertion entities. Peer Mountain’s membership in LOT is a significant step in expanding the advantages of LOT to players in blockchain eco systems.”
One of the ways that this protocol is so unique is that the Peerchain patent cannot be used by companies and individuals that are looking to get access to an excessive number of patents. Even with a restriction in the utilization of Peer Mountain, it is presently aligned entirely with the LOT Network in their efforts to fight patent trolls and maintain protection. Jed Grant, who is the CEO of Peer Mountain, said,
“We’re honored to join the LOT Network and share in the fight against patent trolls. As the Peerchain protocol is patent pending, this is a great way to ensure that the patent would remain beneficial for the Peer Mountain community and ecosystem.”
About Peer Mountain
On its own, Peer Mountain is a protocol, rather than a platform. They are the connection between self-sovereign ID holders and businesses, which helps them to support commerce. Right now, there is no other decentralized network with instant and low-cost support for identification. It helps consumers to have full control over their identifying information, while paying verifiers that prove that they can be trusted.
Consumers can learn more information about this company by visiting https://www.peermountain.com/. For more details on the LOT network, visit https://lotnet.com/,