Bitcoin News: Craig Wright Quietly Seeks Out Blockchain Patents

craig-wright-bsCraig Wright, an Australian entrepreneur, who earlier claimed to be the one who create Bitcoin, has sought patent rights for this cryptocurrency. According to bitcoin news, he already filed more than 50 patent applications in the UK, but still, wants to add more blockchain patents to his name through Britain’s Intellectual Property Office.

According to bitcoin news, it seems as if Wright is trying to patent fundamental building blocks of any blockchains, cryptocurrency, or distributed ledger systems. Craig has been missing from the Bitcoin community for quite a while now; he had earlier failed to convince some people that he was indeed Satoshi Nakamoto, instead choosing to maintain a low profile and declined to be interviewed.

Wright’s persistent efforts to patent various features of the bitcoin technology, working in partnership with a money-exchange app company known as nTrust. In their alleged deal, the total number of patents filed by Craig in regards to blockchain and virtual currency will be registered under nCrypt.

The patent race, as it appears to be, might have been necessitated by wanting to sell something big and soon. This rush for the patent was intended to help with a massive sellout plan to Google or any other big player in the industry. In fact, according to bitcoin news, work had already started at a new research institute in London, where Wright and his nTrust associates were already making movements towards meeting Google and Uber representatives. The entrepreneur states that there have always been hundreds of bitcoin and blockchain patents waiting to be owned. Further claiming that as from next year they will start releasing these patents publicly.

contract_c5be622f-458a-d191-9328-26821e3337fcEven more importantly, according to bitcoin news, part of the contract with nTrust entailed Wright proving beyond reasonable doubt he was indeed Satoshi Nakamoto. This was important not just for the company but those issuing the patent rights as well. Hence, nTrust embarked on an effort to hire public relations experts and journalists to improve their overall image.

Furthermore, it was agreed to the deal that the company would settle Craig’s problems with Australian Tax Office, which had earlier launched an inquiry and investigation into Craig Wright and his corporate holdings after he applied for business tax credits. Following this, Australian authorities raided his home as part of their investigations.

Tied to the business venture called EITC Holdings Ltd, Craig Wright is seeking to acquire as much as 400 patents according to bitcoin news. Data from the UK Intellectual Property’s Office indicates that the company has submitted multiple patent applications this year, most of which are focused on cryptocurrency technology. Also includes others for implementing logic gate functions using a blockchain, systems for efficient transference of entities on distributed ledger, and operating system for blockchain IoT devices.  Even though there is no conclusive proof that Wright is indeed the creator of bitcoin, documents show he was involved in this kind of technology long before the inception of bitcoin.

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Author: Geoffrey

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