Bitcoin Forum

Nchain acquires three new patents from the European Patent Office.
The blockchain technologies research and development firm, Nchain, has acquired three new patents that have been issued by the European Patent Office. The company’s latest intellectual property invented by Nchain’s chief scientist, Dr. Craig Wright, cover “digital rights management using blockchain.”

To his defence,  Calvin Ayre, believes it is necessary for companies like Nchain to acquire these patents because otherwise bigger companies like Bank of America, Visa, and others will grab them first.

https://news.bitcoin.com/nchain-group-granted-three-new-blockchain-patents/

What do you think about it?

I think that the cryptocurrency technology patent is not very important now. Now the plagiarized cryptocurrency will become a altcoin and will not affect the original project. Therefore, I think that the technology patent is currently impossible, which may take a long time.

the biggest selling point of a decentralized currency that is using the blockchain technology is that being decentralized part. and that requires to have everything open source and free to use and free to change for everyone who can. that means contribution from every developer in the world who can and care enough to contribute.

when you start patenting stuff and restricting things you are just making things centralized in my opinion and making your project worth less and less.

Even if the cryptocurrency has a patent certificate, it is not of much use. Other merchants issue coins in the same way. All they need is a unique name for the coin.

It is still possible to encrypt money technology patents. But if we want to develop in the long run, it is better to suggest open source. There are more people to use open source. The contribution to society is very big. At the same time, a lot of people can also pay more attention to this technology.

His statements if true, nchain should have publicized the patent after acquiring it or they could have done a so called open patent. If they were really afraid from large companies patenting and exploiting it. The NChain's patent are intended for profit and it's not the crypto spirit we are looking for.

Well I am with it, these technology are their intellectual properties so they have the right to take out patents on it. He is right when he says that if small companies do not take the patents first then the bigger companies will take them. Things like this have been happening for years. the reason people are not taking out patents on blockchain is because the want the entire system to remain decentralized.

I really do not understand your opinion! But I will learn more
Thanks!

Imagine if real Satoshi had patented Blockchain and Bitcoin... Bitcoin clones and other altcoins would probably not be legally accepted in most countries. What people don't realize about the patenting of blockchain and Cryptocurrency is that it may be a  tactics to slow the growth of Permissionless/Decentralized Cryptocurrency in the future.

They will try to patent any new tech that is Blockchain/Crypto related making it difficult to be used for the development of real Cryptocurrencies.