Claiming that the founder of Bitcoin is building a patent empire and has submitted more than 50 applications

Phoenix Technology News, Beijing time, June 21, according to Reuters, Australian Craig Wright, who claims to be the inventor of Bitcoin, is trying to build a huge patent portfolio around Bitcoin and its underlying technology.

Documents reviewed by Reuters and information provided by Wright's partners show that since February this year, Wright has filed more than 50 patent applications in the UK through EITC Holdings, a company registered in Antigua. Sources confirmed that EITC and Wright are linked.

Two of Wright's partners serve as directors of EITC. Sources confirmed that EITC is also preparing other patent application documents. The UK Intellectual Property Office also published another 11 patent applications submitted by EITC in the past week. "Patent applications are still ongoing," said a person familiar with the matter.

Wright has yet to comment.

If even some of the patents are approved, it would have major implications for the banking industry and other industries trying to explore bitcoin technology. In addition, there are more than a dozen startups rushing to build business models around bitcoin technology, which will also be affected by Wright's patents.

Financial institutions are expected to invest more than $1 billion in blockchain-related projects this year and next, according to a survey by investment bank Magister Advisors. Blockchain is the core technology of Bitcoin. It is a public database that digitally records all transactions, bypassing cash-based payment methods. It forms the core technology of Bitcoin and other cryptocurrencies. Supporters say blockchain has the potential to disrupt financial services, especially by significantly reducing the processing costs of payments and securities transactions.

The patent applications filed by Wright range from a secure payment mechanism for online content to an operating system capable of operating the “internet of things” on a blockchain.

According to a patent application progress document provided by an insider, EITC plans to apply for a total of about 400 patents. According to Wright's partners, they are also preparing hundreds of patent application documents, which will be worth "more than $1 billion" when sold in the future.

Almost all of Wright's patent applications in the UK involve "blockchain" or the more general description of "distributed ledger." These patents usually take several years to be approved.

Last year, some media believed that Wright was the legendary Bitcoin inventor "Satoshi Nakamoto". Wright admitted this year that he was the inventor of Bitcoin. However, Wright's identity was doubted by the Bitcoin community and no more evidence was provided to prove his identity. Since then, Wright has kept a low profile and declined interviews. (Translated by Xiao Yu)