Tatsuaki Okamoto explains why his “electronic cash” patent might have presented an obstacle to Hal Finney in his ambition to create his own electronic currency. Six key patents Sometime before Dec. 6, 2004, Hal Finney did a search in a patent database on “blind-signature based cash systems”. On his site he posted a list of six such patents: “This might be useful for those considering implementing electronic cash.” Four of the patents are authored by David Chaum, the other two by Okamoto and his colleague at Nippon Telegraph Kazuo Ohta. Ecash patents by Dr. Okamoto & his Nippon Telegraph colleague …

Tencent has been expanding its research into blockchain, with the firm registering a series of patents detailing distributed ledger technology (DLT)-based solutions for fund management, and advertising. Chinese media outlet Egsea reported the patents on June 18, noting that the filings also included blockchain-based consumer applications, hardware devices, and media storage systems. The recent filings come as blockchain sees increasing enterprise adoption in the areas of cloud, artificial intelligence and internet-of-things (IoT). Tencent continues amassing DLT patents The new filings will extend Tencent’s presumed dominance in the number of blockchain patents held. In April, media outlet China Banking News reported …

Oscar-winning Russian director, Nikita Mikhalkov, has espoused a bizarre conspiracy theory on local television. He claims that Microsoft’s recent patent for a sensor-based cryptocurrency mining system using body activity data comprises the first-step in a satanic plot to microchip the human race. On an episode of ‘Besogan TV,’ which roughly translates to ‘demon basher TV,’ Mikhalkov claimed the patent number of Microsoft’s cryptocurrency system — WO/2020/060606 — alludes to the occult nature of the technology. “The 060606 part is somewhat alarming. You probably understand this, right? Is this a coincidence or an intentional selection of such a symbol, which in …

China has been a hotspot for blockchain patents and development. As Cointelegraph previously reported, the National Intellectual Property Administration of China has awarded 2,191 blockchain patents between 2017 to 2019. Major multinational companies have also shown immense interest in filing blockchain patents in China. The latest Global Times report suggests that 35 multinationals including Microsoft, Walmart, Mastercard, Sony and Intel, had applied for a total of 212 blockchain patents by the end of March 2020. Of all the foreign companies with blockchain patents in China, Mastercard tops the list with 46 such patents to its name. While there is no …

Major car manufacturer, General Motors, or GM, has filed a patent application for a continuously updating navigation map system. The system would use blockchain to integrate data from vehicle sensors and build a reliable map for autonomous vehicles. According to the filing, which was submitted on Oct. 1, 2018 and published on April 2, 2020, existing maps are “difficult to keep dynamic without incurring large costs.”One potential reason for this is that most maps are maintained through specialized vehicles, whose reach will necessarily be limited to just a few specific sections of the world. General Motors’ solution is to distribute …

Tech giant, Microsoft, is looking to develop a cryptocurrency system which enables individuals to mine cryptocurrency using their body activity data, eliminating the need for specialized mining machines. Microsoft published a patent dubbed “Cryptocurrency system using body activity data” on March 26. Their paperwork details a method of crypto mining which exploits data associated with a user’s body activity to exercise a new form of proof-of-work. The document further details: “For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or …

Tech giant IBM cemented its patent leadership in the United States, with over 9,000 received patents, including in artificial intelligence (AI) and blockchain, in 2019. With the 9,626 patents secured, IBM became the company that received the most patents in the U.S.ever and the leader on the list for the 27th consecutive year, tech-focused media outlet Database Trends and Applications reported on Feb. 4. Of the 9,626 patents, IBM secured over 1,800 patents in AI, more than 2,500 patents in cloud technology and led in blockchain patents received. IBM’s patent dominance Back in July 2019, Cointelegraph reported that IBM had …

Tyler and Cameron Winklevoss, the founders of the Gemini cryptocurrency exchange, have obtained six stablecoin-related patents, according to filings with the United States Patent and Trademark Office. Three of the patents — the first, second and the fifth on the list — all describe systems for changing the supply of a public blockchain-based stablecoin. The first patent describes how trusted third parties such as exchanges or banks can generate the asset, also on-demand. Stablecoins as a part of traditional finance Two of the patents — the third and sixth on the list — describe a system for creating a stablecoin …

Tech giant IBM has been awarded a patent for the development of a “self-aware token” designed to record events of an offline transaction. A patent document filed with the United States Patent and Trademark Office describes a system, which relates to financial data processing in an electronic currency platform, as well as to processing e-commerce tokens, which have involved offline transactions. To track and record events of offline transactions, the system incorporates a so-called “self-aware token.” Tracking and validating offline transactions The document further draws a link between the system and a platform for tracking and validating e-currency tokens IBM …

The National Intellectual Property Administration (NIPA) in China continues to clarify the guidelines for blockchain patent applications, which are set to become effective as of Feb. 1. At the end of December 2019, the NIPA announced the revised guidelines to patent applications for new emerging technologies such as blockchain, artificial intelligence, big data, and business rules and methods. One example of the revised guidelines is a method and device for secure communication between blockchain nodes. The invention patent application proposes a blockchain node communication method and device that solves the problem where blockchain business nodes leak privacy data while communicating …

Brian Amstrong, the CEO of Coinbase, has patented a system that allows users to transact Bitcoin (BTC) directly using email. First filed in March 2015 and awarded by the United States Patent and Trademark Office (USPTO) on Dec. 17, the method enables users to make Bitcoin payments using email addresses tied to wallet addresses, without incurring transaction fees. Zero-fee convenience As the abstract for the invention indicates, email addresses serve as identifiers for users’ wallet addresses within the system. The method couples a Bitcoin wallet creation and management module with a corresponding email module on a given host computer system: …

When Chinese President Xi Jinping announced strong support for blockchain technology last month, pundits suggested that China would soon overtake the United States in dominating blockchain innovations. Our patent research at the Blockchain Center of Excellence at the University of Arkansas finds that China is already winning the Intellectual Property arms race against the U.S. We examined blockchain-related patents that were granted from January 2014 to October 2019 by China’s patent office, the National Intellectual Property Administration, or CNIPA, and the U.S. Patent and Trademark Office, or USPTO. During this period, the CNIPA awarded 2,218 blockchain patents compared to 227 …