29 Jan '16, 6pm

Is Bank of America Trying To Monopolize The Blockchain?

Is Bank of America Trying To Monopolize The Blockchain?

“Blockchain is the Zeitgeist of this decade. Everyone has the same ideas so everyone will be claiming ownership in some form over them. But let's be honest that (internationally) patent rights are really carved out with legal proceedings; essentially, the threat of patent infringement from someone with deep pockets is enough for most businesses to buckle or licence the technology - this is an aggressive IP strategy, get patent pending on a spurious invention and troll your competition. But let's be realistic, if you had a great idea you would want to do what Warren Buffett recommends: build a moat around your IP fortress to keep out the competition. Anyone with any business sense would do that. But you can't achieve collaboration with patents, that's why it is crucial to use the open source banner for collaboration, standard setting then build proprietary patentable models...

Full article: http://cointelegraph.com/news/bitcoin-monopoly-bank-of-am...

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