Bitcoin Global News (BGN)
April 12, 2018 -- ADVFN Crypto NewsWire -- The Winklevoss twins
have been tied to the face of Bitcoin since 2013 when they
attempted to create Bitcoin payment processor called BitInstant.
They were also one of the first major proponents of cryptocurrency
ETFs, however their attempt may have been made too soon. Regulators
denied their project BitFund last year, but others, such as the The
Chicago Board Options Exchange, has explicity urged the SEC to take
a second look at cryptocurrencies.
http://www.cboe.com/publish/ComLet/20180323.pdf
The most notable working operations
the Winklevoss Twins are involved with are cryptocurrency exchange
Gemini, founded in 2015, and investment fund Winklevoss Capital
Management, formed in 2012. Their pursuit of patents may hint at a
new route to establishing cryptocurrencies as ETFs.
https://winklevosscapital.com/
https://gemini.com/
In light of major developments for
the exchange Coinbase to incorporate institutional money, the
patents could also be used as competitive advantage. The most
recent patent is for a, “System, method, and program product for
processing secure transactions within a cloud computing
system”
https://patents.justia.com/assignee/winklevoss-ip-llc
This is not an uncommon interest
among major corporations in the United States. Overall, only China
based companies have applied for more patents that American
companies. Other notable Blockchain technology related technology
patents are from Bank of America, IBM and Ford Motor
Company.
https://www.bloomberg.com/news/articles/2018-01-16/bofa-tops-ibm-and-payments-firms-with-most-blockchain-patents
By designating patents, the
Winklevoss twin’s position their organizations in the most
advantageous position to assist in creating the relationship
between the current Blockchain space and government regulation.
Patents generally last for 20 years, but with the rapid evolution
of technology it would seem irrelevant to hope for something to
last even half of that time. Patents will likely energize even more
creative solutions to the inefficiencies of current
technologies.
The Blockchain space is fueled by
open-source development. The instant tweaks, advancements and
creative change adapts constantly to the desires of the majority.
In order for these technologies to be utilized by government,
regulation will be needed. But a government cannot accept using
open-source software.
By: BGN Editorial Staff