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RE: Blockchain Technology Potential (Series 1) – A Review of a Recent PAYPAL CryptoCurrency Patent Filing and What It Means for the Future of the Technology
The open nature of cryptocurrency development created a low hanging fruit for patent application by the companies that will try to shut down competition, by employing prior art with a few modifications or even none at all. Patenting software does not aid in innovation. It's more like a means of shooting down competition by big companies. @kenraphael
Yes most of these are for anti-competitive use rather than for innovation. And the blockchain technology field is particularly more open source than most due to its decentralized nature which is good. Hopefully all the good innovation in this field continue to go in that direction. In any case, this particular one might not even be so useful even if granted.