A patent is an exclusive right granted to an inventor in exchange for the disclosure of the invention, offered by a sovereign state or intergovernmental organization. A patent is a form of intellectual property and is granted only for some period of time. Patented technology is protected against it being duplicated for the commercial use of other entities other then its inventor. Being an important part of many businesses, technological and fintech patents are strongly protected. Still, there is room for further development. For example, blockchain patents can help with validating data about the invention and in proving the time of its establishment. Blockchain network for patents, alongside networks for storing other crucial data, such as health information or renting contracts, are an important field of study and are in the process of development.
If blockchain companies continue to neglect to acquire patents, they will struggle to convert their ideas into commercial success.
Blockchain companies can’t afford to stay on the patent sidelines
Many gamblers may no longer need to use Bitcoin ATMs in casinos, as they could transfer their crypto directly to casino gaming accounts.
Slot machine manufacturer gets patent for crypto payment options
Coinbase will help COPA on its journey of defending against patent overreach.
Coinbase becomes a founding member of Square’s crypto patent group
Upstart blockchain firm Bots Inc. claims it can demand between $14 million and $18 million in monthly revenue after acquiring a patent to Bitcoin ATM technology...
New patent holder wants $18M a month from US Bitcoin ATM operators
Chinese companies are angling to overtake the United States in blockchain adoption.
Blockchain patent filing rose significantly in China after Xi Jinping’s 2019 endorsement
But the company with the most patents isn’t even American.
The US is number one...in blockchain patents
Square is launching a consortium to pool patents and democratize access to innovative blockchain technologies.
Square launches cryptocurrency patent alliance to fight the trolls