Ups blockchain patent
As the presentations and discussions developed, it became clear that there are principally two ways that IP is likely to interact with blockchain technology. Firstly, there is the predictable desire to protect developments and the use of blockchain through patent rights and other IP rights; but it also became clear that through the use of smart contracts the chain of ownership of IP rights, and indeed licensing, could be made significantly more secure and transparent, not to mention more efficient and cost effective. Emma and Graeme touch on both of these briefly below. It became clear over the course of the day that blockchain patenting has grown at an exceptionally fast rate over the last years, as companies look to blockchain to help add value in all manner of ways - from securing the provenance of commodities such as diamonds or pharmaceuticals, to trading in shares.
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- Australian "bitcoin founder" quietly bidding for patent empire
- UPS Files a Patent for Blockchain Platform to Increase Efficiency in Logistics
- TechNotes - Top 10 issues for blockchain
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- Procurement Glossary
- Patents for blockchain-related technology is outpacing all other fields of computing
Australian "bitcoin founder" quietly bidding for patent empire
The number of bitcoin and blockchain patents and published patent applications has been rising exponentially in the past few years, with a motley group of companies leading the race. Recent public and private sector interest in cryptocurrency signals new institutions may be interested in filing in the coming decade and a new market is rapidly shaping with influx of capital.
We learned that for bitcoin, close to applications have been published in , compared to only 6 applications in We also identified the top five companies for each category. Bitcoin is a type of encrypted digital currency not backed by any government. Blockchain is the digital ledger distributed database in which bitcoin and other cryptocurrency transactions are publicly recorded. When examining the list of filers, it is important to review patent assignees worldwide. Please note that the actual filing date of applications is exactly 18 months before issuance date of published applications and typically two to three years before issuance date for patents.
Therefore, this data does not cover the activity of companies in the last 18 months. The second two filers are well established companies in banking and technology sectors: Bank of America and IBM, both at 42 patents or patent applications. Bellevue, Wa. Nathan and some of the other founders of IV are among the inventors of many of Elwha patents. UPS rounds out at the top five at While only two blockchain patents and 25 blockchain patent applications issued in , the number grew to 32 patents and applications in Again the actual filing date is 18 months before publication for applications and on average two to three years before issuance for patents.
The landscape as well as key players might have changed substantially in the last 18 months. The frontrunner for blockchain, with 30 patents or applications, is Bank of America. IBM holds the fourth place spot at Patexia explored companies interested in future of banking back in by reviewing relevant IPC codes The future of retail banking.
The past and present lists reveal that Bank of America was the first bank and most active company in filing applications related to both bitcoin and blockchain. Other fans of bitcoin included Visa, a traditional financial institution, tech giants, including IBM and Apple, fintech startups like Coinbase , and retailers like Walmart, and IP aggregators like Intellectual Ventures.
However, what came as surprise was very limited activity by tech giants such as Google and Microsoft as well as some giant banks and insurance companies such as Credit Suisse or ING.
They were not even among the top 25 assignees. For those new to the complex world of cryptocurrency, bitcoin is not the only form out there. Ethereum, Ripple, and Litecoin are other types of cryptocurrency which are becoming increasingly popular. Just as bitcoin, they wax and wane in stability.
This fluctuation can make conditions ripe for financial abuse. It is difficult to ascertain the current significant filers in the U. For that reason, the numbers stated here do not include applications filed after mid-July The study also does not look into second and third-degree subsidiaries.
Larger companies may acquire small startups or have filings under different entity names for accounting or alternative purposes. When reading about cryptocurrency, take all information with a grain of salt. The values of different forms of cryptocurrency have soared and plummeted in recent months. There is also a question as to whether world leaders may take measures to discourage the legality and popularity of cryptocurrency itself. Most of these business models may be due for an upgrade and will heavily impacted in the next couple of decades.
Next week we plan to publish the top five law firms in in terms of their activity in Inter-Partes Review IPR , representing petitioners, patent owners or both. Stay tuned. Our second Mixer will be on January 18th in Santa Monica. Make sure to Register Today. Login Join.
Pedram Sameni Jan 17, Legal. Tags bitcoin blockchain uspto. Previous Post. Next Post. Be the first to comment. Write a comment.
UPS Files a Patent for Blockchain Platform to Increase Efficiency in Logistics
Blockchain and related technologies continue to generate excitement across industries, with some of the most promising and feasible opportunities found within the TMT, healthcare and financial services sectors. There are many obstacles in the journey from blockchain prototype to scalable application and in this note we discuss some of the key legal issues to consider at the outset. What are blockchain and distributed ledger technologies DLT? For many lawyers, the first challenge can be to understand the technologies and terminology. We agree with academics at the University of Cambridge and Queen Mary University of London who think of a blockchain as a type of database: a structured collection of information that uses cryptography to create a persistent, tamper-evident record of transactions and to authenticate parties to a transaction.
TechNotes - Top 10 issues for blockchain
Century-old delivery giant United Parcel Service UPS believes that blockchain technology could help streamline package delivery logistics across a global supply chain. The patent application , which UPS originally filed on Feb. However, it may be difficult to coordinate the transportation of the shipment unit through the various logistics service provider transportation networks. Moreover, if there are special handling requirements for transporting the shipment unit, it may be difficult to ensure that the special handling requirements are carried through by each of the various logistics service providers that may assist in transporting the shipment unit. UPS aims to tackle this problem with an autonomous system that, in some embodiments, uses an immutable blockchain ledger to automatically route packages through multiple logistics service provider networks. Once a package has been scanned into a packaging facility, the system will automatically select a route based on the service offerings of network-connected shipping providers. As the package travels to its destination, information about the shipment will be recorded in the blockchain ledger, allowing the system to rate whether service providers are meeting the obligations of their respective service offerings. The patent authors note that, in some forms, the system could be built to accommodate interlocked DLT networks that use smart contracts to pay various parties within the supply chain as they fulfill their obligations within a particular leg of the shipment. If built on top of a public blockchain network, that system could even use decentralized cryptocurrencies like bitcoin or ether to handle those value transfers.
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Procurement Glossary
It details how the technology will be used to facilitate packages at a global scale. The application also takes into consideration costs associated with shipping services, including shipping logistics, and the fact that logistics providers have become well versed in minimizing expenses. However, the document says coordination logistics that involve more than one service provider to coordinate transportation remain difficult. Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. Investing News Network websites or approved third-party tools use cookies.
Patents for blockchain-related technology is outpacing all other fields of computing
Global logistics company UPS have recently applied for a patent to use blockchain technology in their delivery processes. Amongst other benefits, the company is hoping that the technological innovation will increase efficiency when routing packages across multiple carriers. According to SupplyChainDive , UPS are looking to explore the implications of blockchain technology in a much wider capacity than was previously believed. The company joined the Blockchain in Trucking Alliance BiTA several months ago to help promote trust and improve efficiency when making transactions. At the time, UPS had stated that it hoped blockchain technology would be primarily used in line with their customs brokerage business.
As standards for proving innovation get higher, Blockchain patent filing trends have been useful in recording a decentralized digital ledger of transactions. The information stored is copied and distributed on this platform across a network of computers and devices, rather than a single location. This makes the information records public and accessible to all. Blockchain has evolved rapidly between to
According to publicly released details, UPS seeks to utilize the system to route and track packages globally with more efficiency. The system allows the mega delivery firm to monitor their packages across multiple carriers. This is important as customers push for quicker and cheaper shipping alternatives. The international shipping sector continues growing at an astonishing rate. Analysts continue to point out the growing dependency of nations on the international supply chain. The problem is that the current systems in place for shipping packages internationally are grossly outdated.
Arctic Core AS has acquired 2 properties where we plan to start a data center. BA from the Norwegian School of Economics. In addition to business experience, he has long experience from computer hardware assembly he assembled his first computer more than 15 years ago and blockchain mining and insight into computer microchip specific needs for blockchain use. Arve Rasmussen has a BSc in computer science and software engineering. He has experience from quality IT companies including Telenor.
Shipping giant UPS has filed for a new patent that uses blockchain as part of a distributed system for sending packages worldwide. The patent application, published on Aug. Patent and Trademark Office USPTO , further reveals the company's interest in using blockchain to re-envision how shipments move around the world.
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