Craig Wright, the Australian who claims to be the inventor of bitcoin, is attempting to build a large patent portfolio around digital currency and technology underpinning it, according to associates of his and documents reviewed by Reuters.
Since February, Wright has filed more than 50 patent applications in the United Kingdom 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; while the UK’s Intellectual Property Office has published another 11 patent applications filed by the company in the past week.
"None of this has stopped," one person close to the company said.
The person declined to be identified because they were not authorised to speak to the media.
Wright did not respond to requests seeking comment.
The granting of even some of the patents would be significant for banking and other industries that are trying to exploit bitcoin technologies, as well as dozens of startups scurrying to build business models based around it.
Financial institutions are expected to spend more than AU$1.35 billion over the next two years 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 bypasses money-based payments by recording all transactions digitally.The Australian Stock Exchange is an example of one company that has started to embrace blockchain technology. It is currently working with Digital Asset to develop blockchain technology to replace or upgrade its main trading and post-trade platforms.In addition, the the Australian government announced plans recently to remove the "double tax" treatment from those dealing in digital currency such as bitcoin.It said blockchain technology has attracted considerable interest, […]
