The race is on to patent blockchain technology, the "elegant mathematics" behind distributed ledgers. Big institutions such as JP Morgan, AmEx and Mastercard are vying alongside individuals, including controversial entrepreneur JP Morgan, to file patents on the tech, which could be highly lucrative. To be granted a patent, which will only be recognised in the country where it is filed, it must be proved as "statutory, new, useful and non-obvious". Patents can take up to four years to process.
The race is on to patent blockchain technology, the "elegant mathematics" behind distributed ledgers. Big institutions such as JP Morgan, AmEx and Mastercard are vying alongside individuals, including controversial entrepreneur Craig Wright, to file patents on the tech, which could be highly lucrative. To be granted a patent, which will only be recognised in the country where it is filed, it must be proved as "statutory, new, useful and non-obvious". Patents can take up to four years to process.