Blockchain Technology Patents – A Flurry of Activity
Blockchain patent activity is increasing rapidly. A description of the technology was first published in 2008 anonymously, and no intellectual property protections were placed on it. As the technology has become widely known due to its use by digital currencies, various established companies, as well as numerous start-ups and entrepreneurs, have begun seeking patent protection on innovations to the technology. To date, there are over 200 US patents related to blockchain technologies granted since the beginning of 2013, including one for a digital currency ATM ( US Patent No. 9,135,787 ), one for making a payment with a tip button ( US Patent No. 9,436,935 ), and one for a system and method of analyzing blockchain transactions ( US Patent No. 9,298,806 ). There are currently over 1000 US patent applications awaiting examination. The blockchain protocol was developed to solve the technological problem of how to create an open, distributed ledger that was verifiable and immutable....