Bonum Certa Men Certa

Blockchain and Bitcoin Patents Help Demonstrate How Software Patents Get Used by Giants to Crush Emerging Technologies ('Threats')

BitcoinSummary: Innovations associated with Bitcoin/Blockchain -- advancements which are largely Free/Open Source software-centric -- are under threat from financial giants that effectively besiege/threaten startups using a barrage of software patents

THE USPTO insists that it makes the US more competitive, but in many cases it actually helps large companies undermine small ones, not foreign ones.



Case of point: see the new article "When a patent-happy industry meets open-source technology" [1, 2]. To quote from the article:

When the financial services industry started paying attention to blockchain technology, many companies, seemingly as a reflex, sought patent protection for their ideas.

It was ironic, since the original bitcoin blockchain was a breakthrough of open-source development, in which software code is made freely available for anyone to use or modify. As the industry has gained a clearer understanding of how distributed-ledger technology could change its business, it's begun to see the merits of such openness in supporting collaborative innovation, and the limitations of the traditional, you-can't-touch-this approach.

Some are even using a hybrid strategy, pursuing patents to secure a competitive advantage – or at least protect themselves from legal challenges – while publishing code and inviting others to improve it by submitting fixes or patching bugs. The situation underscores the cultural differences between the banking and technology fields as the former looks to the latter for help meeting the demands of an increasingly digital world.


IBM's Manny Schecter was interested in this and Benjamin Henrion told him that these conglomerates pursuing patents on Blockchain technologies is "like oil companies patenting everything solar."

This isn't entirely new a revelation. It's an old trick in many industries (absorbing or denying competition that suggests alternative paradigms). Big Banks are essentially attacking Bitcoin, Blockchain etc. using software patents and today we found two more articles about it, "Blockchain patent filings by Goldman, others tip future cost risk" and "Corporate Patents on Blockchain Could Create Legal Problems for Startups". Well, that’s the intention.

"Thankfully, a lot of software patents pertaining to payments and finance are being invalidated these days (thrown our by court), more so than in any other field.""Over the past few months," one of these articles says, "some of the world’s largest financial companies including Goldman Sachs, Bank of America and Mastercard – have been patenting promising Blockchain methodologies. Despite a common perception that Blockchain is Open Source and developers can freely use Sotoshi Nakamoto’s ideas from bitcoin to build new systems, it still could mean costly legal problems for fledgling startups, lawyers and others are saying."

We wrote about this not too long ago in relation to MasterCard. A lot of the above culminated in the publication of "Big Banks Are Stocking Up on Blockchain Patents" (early yesterday in Wall Street media). To quote:

In the headlong rush to revolutionize modern finance, blockchain enthusiasts are overlooking one potentially costly problem: their applications, built on open-source code, may actually belong to someone else.

Recently, some of the biggest names in business, from Goldman Sachs to Bank of America and Mastercard, have quietly patented some of the most promising blockchain technologies for themselves. Through mid-November, the number of patents that companies have obtained or said they’ve applied for has roughly doubled since the start of the year, according to law firm Reed Smith.


Our readers are smart enough to know what's wrong with this picture. Gullible people may try to frame this as a sign of "adoption" and "success", but the large financial firms just want to guard their monopoly/oligopoly, they don't want disruption.

Thankfully, a lot of software patents pertaining to payments and finance are being invalidated these days (thrown out by courts), more so than in any other field (about 90% of the time). That's similar to business methods, too.

Are patent examiners in the US paying any attention at all to what courts have been arguing over and over again?

Recent Techrights' Posts

India.com a Click-baiting, SEO-Spamming, Slopfarming Heap
They do this almost every day
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Saturday, October 25, 2025
IRC logs for Saturday, October 25, 2025
Without XBox Consoles, XBox is No More, It's Just a Brand (More Rumours of Microsoft Ending XBox, Then Laying Off Lots of Staff)
All signs indicate that Microsoft wants to "exit" the XBox business (not brand), but it does not want to publicly admit this as it would alarm staff and shareholders
Gemini Links 25/10/2025: Portugal, Midnightpub, and "Tech Right Admins"
Links for the day
Almost 2026 Already (When We Turn Twenty)
In just over a year the site will turn 20
When "Sponsored Feature" in The Register MS Means Ponzi Scheme Promotion From the Communist Party of China (CPC)
the promotion of a financial scam
Week of EPO Leaks: Workers of the EPO Are Getting a Pay Cut While Prices Rise Fast
More to come in the next few days
Microsoft is Finally Giving Up on XBox, The Chief Says the Grapes Are Sour Anyway
Microsoft loses hundreds of dollars on each XBox that it sells
Slopwatch: LinuxSecurity, UbuntuPIT, and Various Slopfarms Propped up by Google News
Why can't Google News do better than this?
Links 25/10/2025: Two New Smokescreens for Scam Altman and ‘TikTok USA’ Remains in Limbo
Links for the day
Bad faith: can't change Debian Social Contract (DSC) without unanimous consent of every joint author
Reprinted with permission from Daniel Pocock
Confirmed: Very Close Friend of Bill Gates and Microsoft's Biggest Patent Troll Nathan Myhrvold Flew the Lolita Express (a Gateway to Pedophilia), According to Bill Gates-Sponsored Seattle Times
There is no speculation or any "conspiracy theories" here;' those are verified facts
Gemini Links 25/10/2025: "The Highest Leader of The Global Civil Society Community", SSL Certificates Causing Bitrot
Links for the day
Links 25/10/2025: Target Layoffs and "Shutdown Sparks 85% Increase in US Government Cyberattacks"
Links for the day
"Big Data" Was a Big Lie
Remember "Big Data"? Remember "Data Scientists"...?
statCounter Has Been Broken for a Long Time
Considering the huge proportion of Web requests that come from LLM bots (more so this past year or two), statCounter may struggle to justify the operating costs
Techrights Anniversary Party on November 7th
Let us know if you need any accommodation-related arrangements
Trends That Must Alarm Microsoft and Mozilla
Expect Firefox to no longer be supported by various sites in the US
Why Microsoft Became the Layoffs Leader
The corporate media is projecting or signalling its own dishonesty when it tells us that Microsoft is a very "valuable" company while the data shows Microsoft is also a "market leader" in layoffs
Speaking for Ourselves and Letting the Facts Speak for Themselves
we've already published over 50,000 pages
For Second Time in a Day The Register MS Takes Money From Private Companies to Sell a Ponzi Scheme
Do not have empathy for those who have zero empathy towards you
IBM is Misleading IBM Shareholders
IBM is still all about vapourware and buzzwords
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Friday, October 24, 2025
IRC logs for Friday, October 24, 2025
The Serial Slopper Starts Up - or Restarts - His Plagiarism Machine (LLMs)
Serial Sloppers like these don't belong in news sites. That's why he got sacked by BetaNews.
Links 24/10/2025: Esperanto Music History, Anxiety, and New Portals
Links for the day
[Video] Richard Stallman's Talk in Sweden, Attended by Nearly 700 People, is Now Online
The Web page is in Swedish, but the talk is in English
Slopwatch: LinuxSecurity.com, Linux Journal, and Pet Slopfarms of Google News
Why does Google News still advance these fake sites to the top of search results?
Links 24/10/2025: Inequality Grows, Billion-Dollar Scam Center Industry
Links for the day
Links 24/10/2025: "Independent Media in Cambodia is Collapsing" and Serious F5 Breach
Links for the day
Coping With the Site Going More Mainstream
Fame is no laughing matter
They Never 'Put Down' Corporations
There are "pests" that are traded in Wall Street
21 Pages in Less Than 7 Hours is No Joking Matter
We've become a lot more effective and efficient
Correct Information is a Valued Asset in the Age of Slopfarms and Public Relations (PR) or Spin
Publishing suppressed facts is never easy
The Register MS Continues to Bag Money to Promote a Ponzi Scheme, Even Money From China
Today in the front page
analytics.usa.gov: The Only Supported Version of Windows (This Past Week) is Only Used by About 13.9% of People in the US, the Home Base of Windows
Even Vista 7 is still used more
Rust is Very Secure
If only Rust itself is secure
Who Will be Held Accountable for Breaking Ubuntu by Imposing Rust on Otherwise-Functional Programs, in Effect Replacing GNU With Proprietary Microsoft (GitHub)?
they're practical people who merely point out that a bunch of buffoons not only ruin Ubuntu but also every future distro based on Ubuntu
Generation Chaff - Phase VIII: In Summary
Like "Science" with a capital "S", what we see here commercial interests usurping everything
Generation Chaff - Phase VII: Curtailing Alternative Media
There was always an obligation - a collective duty of sorts - to uphold independent journalism
Generation Chaff - Phase VI: Centralisation of Information (X, Cheetok/Fentanylware)
Would you trust information when controlled by such people?
Generation Chaff - Phase V: Censorship of Dissent (Painted as Harassment or Terrorism)
Censorship is all around us now
Generation Chaff - Phase IV: Apps Only Few Companies Decide On
Tools are being collectively confiscated, under the premise or false prospect of "security"
Generation Chaff - Phase III: Slop and Plagiarism
A lot of the current so-called 'economy' is built upon false valuations
Generation Chaff - Phase II: "Cloud", Blockchains and Other Hype
For those of us who turned down those propositions there was a struggle; we needed to justify not having skinnerboxes or "social" accounts in some site run by a private company
Generation Chaff - Phase I: Social Control Media
IRC predates the Web
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Thursday, October 23, 2025
IRC logs for Thursday, October 23, 2025
More Clues Shed on Collapse of Microsoft XBox
XBox is basically circling down the drain as Microsoft implements 2-3 waves of layoffs each month
'Vibe Coding' Doesn't Work
In a lot of ways, so-called 'Vibe Coding' is already considered vapourware or a passing fad promoted in the media by managers who try to justify mass layoffs, especially ridding companies of "very expensive" software engineers
Links 24/10/2025: Microsoft's Killing of XBox Connected to Revenue/Profit Problems, "How Elon Musk Ruined Twitter"
Links for the day
Gemini Links 24/10/2025: 86,400 Seconds and "Society's Task"
Links for the day