Self-Claimed Not-Yet-Proven Craig Wright Tries to Patent Smart Contracts for Bitcoin


A couple of years back, polarizing crypto personality Craig Wright was listed as one of the inventors on a number of different crypto-related patent applications that were eventually submitted to the Canadian Intellectual Property Office (CIPO) and the European Patent Office (EPO).

The proposals were designed to help integrate smart contracts into Bitcoin (BTC) as well as other blockchain ecosystems. However, at press time, it is worth remembering that none of these patents have been granted.

In relation to the matter, Wright took to Twitter yesterday and posted screenshots of securities based offerings that explicitly made use of these “pending patents”. If that wasn’t enough, he even went on record to say that “valid security tokens must abide by intellectual property laws” — a statement that seemingly goes against what Wright is doing at the moment.

He then went on his usual disparagement of the Ethereum (ETH) and EOS (EOS) projects by claiming them to be in direct violation of his intellectual property rights.

https://twitter.com/ProfFaustus/status/1099615460377718784

A More Detailed Look At The Matter

As some of our regular readers may remember, nChain had filed a patent with the CIPO (during early Feb. 2017) for a technology called “Agent-Based Turing Complete Transactions Integrating Feedback Within a Blockchain System.”

The application was also submitted to the World Intellectual Property Organization (WIPO) and its purpose was to introduce “Turing completeness” into blockchain systems via the use of smart contracts.

In this regard, it should be remembered that the Ethereum blockchain makes use of ‘Solidity’ — a crypto-oriented computing language — to accomplish the aforementioned feat. However, over the years, the ETH ecosystem has fallen victim to various third-party attacks and exploits.

Other Key Points Worth Bearing in Mind

  • On Feb 17, 2017 nChain filed for a patent in regards to an all-new invention called “Registry and Automated Management Method for Blockchain-Enforced Smart Contracts.” As the name suggests, the core purpose of this technology is to deploy smart contracts within niche’ areas such as metadata storage, asset tokenization, etc.
  • If IPRs for technologies associated with BTC is granted to other companies, the industry as a whole might suffer greatly— since inventions within this domain will be stifled due to copyright constraints.

Final Take

In closing out this piece, it is worth remembering that over the past few years, Wright has been accused of things like ‘plagiarism and fraud’ by ETH co-founder Vitalik Buterin as well as WikiLeaks.

https://bitcoinexchangeguide.com/crypto-price-analysis-watch-bitcoin-btc-ethereum-eth-ripple-xrp-and-bch-predictions/

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