The Bitcoin Patent – Only A Matter Of Time?

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Ira Schaefer and Ted Mlynar are partners in a Intellectual Property use during Hogan Lovells in New York, where they advise on obvious and egghead skill issues relating to blockchain and cryptocurrency technologies.         

In this opinion piece, Schaefer and Mlynar plead either bitcoin could be patented, and either it would be enforceable if it was.

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Bitcoin is a technological marvel that has revolutionized financial systems.

The birth of bitcoin came in 2008 in a paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” by a pseudonymous Satoshi Nakamoto. The birth retard – a initial retard of exchange – was combined a following year, and a network has continued ever since.

Given that no chairman (or group) has credibly claimed authorship of a 2008 Nakamoto paper or a bitcoin transaction process it describes, not surprisingly, no obvious formed on that strange work has appeared.

However, that does not stop us from devising what a obvious explain on a bitcoin process competence have looked like if a obvious focus was filed in a US before a Nakamoto essay was published.

While obvious claims are created to pass pattern during a US Patent and Trademark Office (USPTO), we have taken a liberty

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