The blockchain technologies research and development firm, Nchain, has acquired three new patents that have been issued by the European Patent Office. The company’s latest intellectual property invented by Nchain’s chief scientist, Dr. Craig Wright, cover “digital rights management using blockchain.” Nchain says that the Bitcoin Cash (BCH) network has the ability to disintermediate the current intermediaries within our financial transactions.
Digital rights management allows creators of digital content the ability to ensure that they are paid for their work. Nchain asserts that the three new patents issued by the European Patent Office will help bolster digital rights management.
Furthermore, the patents follow two other EPO grants acquired by Nchain on April 11 and June 20 – which apply to BCH deterministic key generation, and a blockchain registry and automated management method. “These third, fourth and fifth patent grants by the European Patent Office marks demonstrate the value in Nchain’s program for blockchain innovation,” explains the Nchain Group CEO Jimmy Nguyen.
We will continue working to make blockchain technology more usable, for more advanced functions, by major enterprises around the world. The three patents acquired by Nchain and invented by Dr. Craig Wright include: Of course, not everyone is thrilled about the use of patents within the cryptocurrency ecosystem – which is traditionally dominated by open source projects.
Some people within the BCH community detest the fact that Nchain has been acquiring state-enforced intellectual property rights. However, the owner of the blockchain and mining firm Coingeek, Calvin Ayre, believes it is necessary for companies like Nchain to acquire these patents because otherwise bigger companies like Bank of America, Visa, and others will grab them first. Read more from news.bitcoin.com…
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