1 month ago

    Craig Steven Wright: The man who wants to own blockchain

    Craig Steven Wright: The man who wants to own blockchain
    Table of contents

      Craig Steven Wright, a self-proclaimed inventor of Bitcoin, has been at the center of significant controversy. Despite his prolific patent submissions, Wright’s claim to be the mysterious Satoshi Nakamoto has been widely discredited. After losing his claim to be Satoshi Nakamoto, Wright was ordered by a UK court to pay over $1 million in legal costs. The court found significant inconsistencies in his evidence, marking a decisive end to his controversial assertions.

      Amidst this backdrop, Wright’s extensive patent activities reveal a complex strategy to assert his influence in the blockchain space. Here’s a deeper look into the controversy surrounding his patent activities and the structure he uses to associate his name with these patents.

      Wright’s patent strategy – clawing himself back to relevance in the blockchain space

      Wright has been submitting blockchain patents since 2015 and currently holds one of the highest numbers of blockchain patents globally, positioning him either first or second, depending on the counting criteria. Globally, he has one of the highest numbers of blockchain patent submissions, following only Charles Howard Cella. Charles Howard Cella holds the top spot with 473 patents, while Wright’s various submissions under different name formats (Craig Steven Wright, Wright Craig Steven, Wright, Craig Steven) cumulatively total 406, 356, and 245, respectively.

      Wright’s extensive patent filings can be seen as a strategy to cement his association with blockchain innovations without necessarily proving his foundational role in creating Bitcoin. By leveraging corporate entities and co-inventors, he makes a robust network of intellectual property that bolsters his professional image despite the broader skepticism.

      The findings are based on an analysis of patent data obtained from the World Intellectual Property Organization (WIPO) database, accessible through WIPO Patentscope. This source provides comprehensive information on patent applications submitted globally, enabling a detailed examination of Craig Steven Wright’s patent submissions and their implications in the blockchain industry. For a broader view of blockchain patent trends, see our 2023 Blockchain Patent Report.

      Establishing technological ownership

      Wright’s patents cover various blockchain applications, from transaction verification and address generation to tax mechanisms and communication protocols. These innovations position him and his associated entities at the forefront of blockchain technology development.

      By securing numerous patents, Wright strengthens his market position, potentially deterring competitors and attracting partnerships. Holding extensive patents allows Wright to control significant aspects of blockchain technology, which can be leveraged in licensing agreements and legal battles. Despite controversies, these patents contribute to Wright’s recognition as a prolific IP owner in blockchain.

      What does he hope to obtain with all these patents?

      Wright’s strategy suggests a long-term vision of becoming a dominant force in the blockchain industry. If successful, he will gain substantial influence and financial rewards by generating revenue from companies using patented technologies, influencing blockchain technology standards and practices, and using patents in legal disputes and business negotiations.

      Craig Steven Wright’s patent activities in 2023 reflect a deliberate effort to solidify his role in the blockchain sector. While his claims of being Bitcoin’s creator remain contentious, his extensive patent portfolio underscores his commitment to shaping the future of blockchain technology.

      Notable patents, strategic influence, and targeted clients in the blockchain industry

      Craig Steven Wright’s extensive patent portfolio spans a wide array of blockchain applications, indicating a deliberate strategy to establish a foothold across multiple facets of the industry. His patents cover crucial areas such as transaction verification, blockchain address generation, tax mechanisms, communication protocols, and general computational tasks. By targeting these areas, Wright aims to address fundamental challenges in blockchain technology, enhancing security, efficiency, and usability.

      The industries and clients Wright is targeting with his patents are diverse. For instance, financial institutions and fintech companies would benefit from his innovations in transaction double-spend prevention and secure tax mechanisms. These patents are designed to ensure transaction integrity and compliance with regulatory requirements, making them attractive to banks, payment processors, and tax authorities. Moreover, his patents on generating and managing blockchain addresses and implementing universal hash functions are crucial for digital identity verification and data security businesses, such as cybersecurity firms and IoT developers. By focusing on these key sectors, Wright aims to secure a broad client base, leveraging his intellectual property to drive adoption and integration of advanced blockchain solutions across various industries.

      1. 20230300191: Connecting to the Blockchain Network
        • Description: A method for transmitting blockchain transactions.
        • Inventor: Chloe Tartan
        • Applicant: nChain Licensing AG
      2. 20230125507: Blockchain Transaction Double Spend Proof
        • Description: A method to test blockchain transactions for double spending.
        • Inventor: Chloe Tartan
        • Applicant: nChain Licensing AG
      3. 2597703: Blockchain Based Tax Mechanism
        • Description: Facilitates tax payments using blockchain.
        • Inventor: Daniel Joseph
        • Applicant: nChain Holdings Ltd

      Is Craig Wright the mastermind he claims to be?

      Using corporate entities

      Wright’s patents are primarily submitted through corporate entities such as NCHAIN LICENSING AG, NCHAIN HOLDINGS LTD, and NCHAIN HOLDINGS LIMITED. This structure serves multiple purposes. By using established corporate entities, Wright adds legitimacy to his submissions and distances himself from direct scrutiny. These companies can pool resources and expertise, enhancing the quality and breadth of their patent applications. Corporations can provide legal and financial protections that individual applicants may not have, safeguarding against potential legal repercussions.

      The role of Co-Inventors

      Many of Wright’s patents list other inventors, such as Chloe Tartan and Stephane Vincent. This collaborative approach diversifies expertise – brings in specialized knowledge from other inventors, bolstering the technical depth of the patents, and shares responsibility – distributes the credit and responsibility for the inventions, further distancing Wright from direct accountability.

      Craig Steven Wright’s extensive blockchain patent portfolio and the corporate structures used for these submissions highlight a complex strategy to build credibility in the blockchain space. However, his discredited claims of being Satoshi Nakamoto and the use of corporate shields raise significant questions about his true role and intentions within the industry. While his contributions to blockchain technology through patents are notable, the controversy surrounding his identity and methods cannot be overlooked.

      FAQ

      What are the patent submissions by region for?

      Wright’s patents span multiple jurisdictions:

      • United States: 223
      • United Kingdom: 137
      • Japan: 31
      • Mexico: 14
      • Poland: 1

      Which entities is Wright using for patent submission?

      Wright’s patents are primarily submitted through various entities, which raises questions about his direct involvement and the legitimacy of his claims:

      • NCHAIN LICENSING AG: 197
      • NCHAIN HOLDINGS LTD: 108
      • NCHAIN HOLDINGS LIMITED: 107
      • LAN LI: 1
      • NCHAIN HOLDINGS AG: 1
      • NCHAN LICENSING AG: 1
      • RYAN K ROEDER: 1
      • SENKO ADVANCED COMPONENTS INC: 1
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