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Craig Wright Silently Building a Huge patent Portfolio

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Craig Wright Silently Building a Huge patent Portfolio

Craig Wright  (Australian Computer Scientist and Businessman) and who also claimed the real founder of Bitcoin has filed more than 50 patent applications in Britain through Antigua-registered EITC Holdings Ltd, which a source close to the company confirmed was connected to Wright, government records show.  Interviews with sources close to EITC Holdings Ltd, which has two of Wright’s associates as directors, confirmed it was still working on filing patent applications and Britain’s Intellectual Property Office has published another 11 patent applications filed by the company in the past week.  The granting of even some of the patents would be beneficial for banking and other industries that are trying to exploit bitcoin technologies, as well as dozens of start-ups scurrying to build business models based around it.

Banks are expected to spend more than $1 billion this year and next on projects linked to the blockchain at the heart of bitcoin, according to a survey by boutique investment bank Magister Advisors.  The blockchain is a public database that by-passes money-based payments by recording all transactions digitally. It forms the core of bitcoin and other cryptocurrencies by maintaining a decentralized record of all transactions.  Proponents say it has the potential to disrupt financial services by making payments and the settling of securities transactions, in particular, far cheaper.

Patents that Wright has applied for range from a mechanism for paying securely for online content to an operating system for running an internet of things on blockchain.  A patent schedule, one of a number of documents relating to the applications shown to Reuters by a person close to the EITC Holdings, outlines plans to apply for about 400 in total.  The London Review of Books (LRB) ran an article by novelist and journalist Andrew O’Hagan quoting associates of Wright’s as saying that they were working on filing several hundred patents.  Nearly all the British filings involve the term blockchain or its more generic description, the distributed ledger. The patent approval process typically takes several years  Wright, 45, has cut a controversial figure after some media last year identified him as the mysterious “Satoshi Nakamoto”, who distributed a paper and later software that launched bitcoin in early 2009. Wright failed to persuade a skeptical bitcoin community in May that he was Nakamoto, performing a U-turn on his promise to provide further evidence and saying that he lacked the determination to put years of anonymity and hiding behind him. He has since modest and refused press conference.

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