Craig "Satoshi Nakamoto" Wright Tries to Dominate Blockchain with Patents

The discredited self-proclaimed inventor of Bitcoin, Australian business man Craig Wright, is back to mess with the Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term world. A firm controlled by Wright is filing a huge number of patents for various applications of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology estimated to be worth over a billion dollars, according to the Reuters news agency.

The fact that the real inventor of Bitcoin left his breakthrough invention in the public domain allowed for rapid development of new derivative projects, first in new cryptocurrencies and these days especially around blockchain solutions for banks and other financial institutions. If Wright is allowed to gain legal control of the technology all that might change.

While trying to keep the connection to Wright hidden, his firm (Antigua-registered EITC Holdings Ltd) has reportedly already filled applications for over fifty patents in the UK since February, with up to four hundred planned.

Remember Wright?

In May, Wright announced that he is the creator of Bitcoin with much fanfare, appearing simultaneously on Forbes and the Economist as well as an interview on the BBC. Giving validity to the claim were Bitcoin experts and leading community members, Gavin Andresen and Jon Matonis, who seemed to confirm at the time that the Australian businessman is indeed Satoshi Nakamoto.

However, many refused to accept Wright as the creator of Bitcoin and challenged him to provide proof by making a transfer from Satoshi's wallet or just signing a verified a message using the private key from block #1. Wright very quickly decided to disappear, he deleted his blog and claimed he will not talk to the public ever again. The last meaningful message from him was that he is sorry for hurting reputation of Andresen and Matonis.