Blockchain and Bitcoin round-up: 21 August 2017
Hot on the heels of the round-up on 18 August, here’s another blockchain and Bitcoin report. Featuring D+H Corporation (now Finastra), Visa, BTCS and Blockchain Global.
A patent filing frenzy seems to be occurring at present. Following on from Bank of America filing three new patents using blockchain earlier this month, we now have D+H Corporation (D+H) and Visa jumping in. D+H has filed three new applications under the title “Peer-to-Peer Financial Transactions Using A Private Distributed Ledger”.
Just as a reminder, back in June, Misys and D+H joined forces to create Finastra, the third largest financial services technology company in the world. However, on the US Patent and Trademark Office’s website it is only D+H listed as the applications were submitted before the merger (but only just revealed).
Also on the US Patent and Trademark Office’s website, Visa is doing the same kind of speculative patent filing with the title of “Methods And Systems For Using Digital Signatures To Create Trusted Digital Asset Transfers”. In the “claim” it states that “wherein recording the digital asset in a database includes generating a block for a blockchain”.
Nothing may come of D+H and Visa’s activities, as several others have been up to the same kind of stuff. Last year, large US banks such as Morgan Stanley and Goldman Sachs filed patents for their own blockchain projects. There is also Bitcoin to consider. As reported in March, the man who claimed to be Satoshi Nakamoto, the creator of Bitcoin, revealed he was working on filing patents for the currency. While in June 2016, PayPal filed a US patent application for a modular payment module that accepts Bitcoin and other digital currencies.
US-based blockchain firm BTCS has signed a non-binding letter of intent (LOI) to merge with Australia’s Blockchain Global (BCG). The latter operates four distinct business lines, an institutional exchange platform, transaction verification services (Bitcoin mining), a blockchain start-up accelerator, and a blockchain technology consultancy.
According to BCG, it generated AU$5.9 million ($4.4 million) revenue in FY16, a 300% increase over FY2015 revenue. BCG wholly owns and operates ACX.io, an Australian Bitcoin exchange and liquidity provider. Sam Lee, CEO of BCG, says: “By teaming up with BTCS, we’re deepening our pool of talent.” The LOI is subject to a number of conditions including the approval of BCG’s shareholders and board and the approval of BTCS’s board, and the settlement of all of BTCS’ debt prior to closing.
Banking Technology Awards 2017 are now open for entry!
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognition this year? Nominate them for a Banking Technology Award!
Deadline for submitting the nominations is 25 August 2017.