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. Blockchain, a digital ledger that records transactions in an unchangeable way, has been touted by some tech entrepreneurs for its potential to transform how we pay for goods and services. 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.