According to the blockchain firm Nchain and its CEO Jimmy Nguyen, the company has secured its first approved patent recognized by the European Patent Office. The patent involves an invention that provides a method for an automated management and blockchain-enforced smart contracts.
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Blockchain Firm Nchain Gets an Automated Management and Smart Contract Patent Approved by the European Patent Office
Nchain is a blockchain technology-based research and development organization led by Jimmy Nguyen, chief scientist Dr. Craig Wright, and over sixty researchers, engineers, and other professionals based in Europe and Canada. Over the past couple of weeks, Wright has been releasing a series of research papers that apply to the bitcoin infrastructure and the overall network. The subjects discussed within his latest papers include Turing completeness for the bitcoin protocol, and other mathematical distributed consensus critiques.
Now the firm has secured its first approved patent among many filings with the European Patent Office (EPO). The patented invention was curated by Wright and claims it will allow the storing of metadata, implementing digital tokens, and smart contract management. According to an interview with Nchain’s Jimmy Nguyen and Coingeek columnist Cecille De Jesus, the CEO explains that the IP assets will be available for free for individuals and development teams dedicating their energy to the Bitcoin Cash network. Nguyen explains the EPO approval is a milestone for Nchain and he expects more EPO filings will be approved.
“This first patent grant by the European Patent Office marks a major milestone in Nchain’s ambitious research and patent program, which started approximately two years ago,” Nguyen explains.
We expect this will be the first
