by: (Covington & Burling)
The latest information in the digital asset industry
Despite the decline in enthusiasm in the trading market over the past few years, we have seen innovation and progress in all areas of cryptocurrencies. Layer 2 scaling solutions for Ethereum and Bitcoin blockchains, improvements to cryptocurrency mining equipment, new applications for non-fungible tokens (NFTs), decentralized finance (DeFi) protocols, decentralized autonomous organizations (DAOs), and more. The universe continues to flourish. Just to name a few.
As discussed in a previous article, open source innovation has always been a key element in the development and operation of the cryptocurrency industry and its central blockchain technology, yet companies engaged in this area of technology development must consider the protection of intellectual property. Property rights to their innovations. This could include patenting inventions that complement or are adjacent to open distributed public ledgers such as Bitcoin and Ethereum.
Patenting activities for crypto assets and other blockchain technologies
As the graph below shows, patenting activity for crypto assets and other blockchain-related innovations has experienced year-over-year increases in recent years, but activity has slowed recently…
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