I was rather surprised when I found out that Australia ranked #3 globally
on cryptopatents. Now much as it is ego-boosting to think we're
mathematical geniuses, I suspect that's it's more an intellectual landgrab
... in particular
> we are beginning to see the emergence of companies like nChain Holdings
> <https://nchain.com/en/>, which was originally founded for the sole
> purpose of researching and developing blockchain solutions. Instead of
> trying to keep up with advances in technology to be more competitive in an
> existing industry, nChain established an entire business model around
> blockchain and cryptocurrency technologies (even without tokenization).
Which sounds like specialist R&D firms creating IP, then forming specific
business models around the implementation and farming/flogging the
franchise. Obviously the banks are building up their patent thickets as
noted by Bank of America
> Even though it’s uncertain whether patent pending applications will
> ultimately be approved, Bank of America has already shown that it has the
> potential to become a global leader of cryptocurrency/payment processing.
which if history is any judge, once they (or any other cryptostartup with
ideas but no clue) find the actual business is lacking traction, they'd
immediately start asserting claims or flog off the patent to trolls which
will then trigger a massive arms-race. But seriously, in terms of novelty,
you really have to take one's hat off to the chinese
> Zhong An’s Gogo Chicken *integrates the Internet of Things, blockchain,
> artificial intelligence and internationally patented anti-counterfeiting
> technology* together to create a *facial-recognition system that will
> monitor the life cycles of poultry*. .... plans to have around 23 million
> become a part of the project within the next three years
so we won't need to worry about national security, just the chicken-littles
running around chased by men-in-white with cameras wanting fresh
bak-jain-gai (chinese delicacy). Hopefully the Aussie crypto-patent holders
have less finger-licking ideas.
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