I got caught up in Bitcoin media mania. Things are getting out of control. A couple of jpmorgan chase bitcoin patent ago I sat down to look through a document for one of our clients. Jpmorgan chase bitcoin patent I stopped for a cup of coffee, I glanced at Twitter and discovered considerable excitement amongst the people that I follow.
JPMorgan files patent for Bitcoin-style payment system — an tracyalloway story http: In our corner of the transactions treehouse that counts as big big news so I very excitedly clicked on the link and soon found who bunch of magazine articles about the patent. JPMorgan Chase has filed a patent with the US patent office for a computerised payment system that has elements that resemble the bitcoin digital currency.
This is certainly big news I thought. So I clicked on the link to the patent itself and started reading the introduction. When the next tweet pointing to the patent came along, I actually clicked on it, again, and scrolled down my iPhone screen and started reading the actual patent itself.
I was struck by two things. First of all, even on second glance it had absolutely nothing to do with Bitcoin. There was nothing about coins for one thing, nothing about an open and distributed ledger, nothing about any of the basic characteristics of Bitcoin at all.
The second thing I noticed as Jpmorgan chase bitcoin patent was reading through it was that it seemed oddly dated. I can say that with authority, because my name is on one of them! Imagine my surprise then, when later in the day, I discovered that it is actually was a patent from the late s! US banking major JP Jpmorgan chase bitcoin patent has filed to patent an online payment system that is similar to the emerging virtual currency, Bitcoin.
Please help to spread the word. There is nothing remotely interesting in the JP Morgan patent. It does not use coins. It does not have an open ledger. It does not mean anything for the Bitcoin community or even for the wider crypto currency community. So why am I bothering to write this blog post? Take a look at this comment.
Chase took a jpmorgan chase bitcoin patent pun intended at Bitcoin by specifically not mentioning it in the patent application:. There must jpmorgan chase bitcoin patent a DSM V code for this. Bitcoin mania is getting out of control. Perhaps it has become a kind of lightning rod for discontent about the economy, or the modern world in general, but much of the discussion around it is, in my opinion, far from rational. Your email address will not be published.
Banking and FinanceMarkets I got caught up in Bitcoin media mania. Chase took a swipe pun intended at Bitcoin by specifically not mentioning it in the patent application: Banks, Bitcoin-killers and jpmorgan chase bitcoin patent DSM. Leave a Reply Cancel reply Your email address will not be published. Thought Leaders We help our clients bridge the gap between business and technology by providing practical, impartial advice at all stages in a project life cycle from the conceptual phase through to completion.
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