Sixty of the world’s top financial institutions who are members of the Blockchain Consortium R3, who, with their considerable financial and resource commitments (members allegedly pay 20,000 euro per month according to a Blockchain News source) have hired some of the world’s top Blockchain developers and have been pumping money into a cross-industry solution called Corda – which some feel is still a couple years away before getting to market.
The problem is – some of the American member companies are themselves taking out patents on Blockchain and this is creating fissures in R3.
According to an article by Jonas Leijonhufvud at Sweden-based DI Digital a series of individual patent applications filed by US banks now threaten to derail the project, according to a source he has interviewed from the Swedish bank SEB, a member of R3.
Kristian Gårder, who represents SEB in the R3 consortium, says he hopes that R3’s platform Corda, will be ready for launch in two to three years. However, a series of individual patent applications, filed by members such as Morgan Stanley and Goldman Sachs, may severely limit the usefulness of the platform, according to Gårder.
“The R3 consortium has applied for a patent for Corda. But both Morgan Stanley and Goldman Sachs have applied for their own blockchain patents, and they are not alone in doing so. Members will obviously worry if some R3 members seek patents that we’ve discussed together. Now we are beginning to see alliances form,” Gårder told Leijonhufvud.
SEB’s position is that that Corda should be open source and hence available to the entire financial community. If the cooperation ultimately fails, the bank says it will still be invested in the underlying technology.
“We have never seen R3 as a risk-free project and we have already learned a lot from this,” says Kristian Gårder.
SEB was one of R3:s founding partners. Today, the consortium has 43 partners and 65 members. Most of the world’s major international banks are involved in the project.
- BlockMason Announces First SEC-Compliant Public American ICO - August 18, 2017
- Tightened EU Regulations Enabling Blockchain Technology in Pharmaceutical Supply Chain - August 18, 2017
- Mark Cuban Portfolio Company Unikrn Seeks to Sell $100 Million in UnikoinGold tokens - August 18, 2017
- Dash To Host Its First Ever Global Conference - August 17, 2017
- LAToken Tokenized Apple Shares to Sell Them for Cryptocurrencies - August 17, 2017
- Sensay, Groundbreaking AI and Chatbot Company Launches Token Sale - August 17, 2017
- ICOBox Token Presale Attracts $8.3 Million - August 17, 2017
- Indorse, the Decentralized Professional Social Network, Receives Additional Backing From Coinsilium After $5.5 million Pre-Sale - August 16, 2017
- Decentraland Partners With imToken, Connext, and Bitcoin Suisse - August 16, 2017
- Ethereum-based Car Towing Aggregator CarTaxi Plans ICO - August 16, 2017
- Ukraine Government to Allow Foreign Investors to Purchase Real Estate Online with Propy - August 16, 2017
- Cofound.it to Launch Weekly Crowdsales through September - August 15, 2017
- Blockstream Satellite: Broadcasting Bitcoin from Space - August 15, 2017
- Dr. Christian Seberino – Houston Texas Blockchain Course Kicks Off Friday August 18, 2017 - August 14, 2017
- Skycoin – Skywire Miner: Hardware for the Next Internet - August 12, 2017
- NSD and Waves kickstart development of Crypto Assets platform - August 12, 2017
- ICONOMI Introduces Columbus Capital As Its First Asset Management Partner - August 12, 2017
- Siberians to Launch ICO for Decentralized Betting eSports Platform - August 12, 2017
- Decentralized News Network Releases Alpha Update - August 12, 2017
- Gibraltar’s Fintech Sector Moves Forward – Awards Xapo E-money license - August 11, 2017
- AMBROSUS Partners with TREK THERAPEUTICS to Develop a Blockchain-powered Method to Track Quality in Pharmaceutical Manufacturing - August 11, 2017
- Outlier Ventures Becomes First VC To Hire ‘Head of Crypto-Economics’ With Appointment of Eden Dhaliwal - August 11, 2017
- Rivetz Raises $5.5 Million in RvT Token Pre-Sale; Public Token Crowdsale Begins Today, Capped at 200,000 ETH - August 10, 2017
- Leading Japanese VCs, Nippon Technology Venture Partners, FISCO Capitals, and ABBALab Inc all to invest in COMSA ICO tokens and XEM - August 10, 2017
- Binded Launches One Click U.S. Copyright Registrations - August 10, 2017
- Illinois Opens Blockchain Development Partnership with Hashed Health - August 9, 2017
- Jaxx and Cofound.it Partner to Give Best New Cryptocurrencies Immediate Liquidity - August 9, 2017
- GoldMint Project Plans to Provide 100 per cent Gold-Backed Stable Assets - August 9, 2017
- Launching a Blockchain Solution to Make Aviation Safer – Aeron.aero - August 9, 2017
- Blackmoon Financial Group Launches Blockchain-Based Platform for Tokenized Investment Funds - August 9, 2017
- SONM Launches Updated Platform With Discovery Algorithm - August 9, 2017
- AirFox Announces ICO to Make Mobile Data More Accessible and Affordable - August 8, 2017
- Golden Fleece Project To Expand Massive Altcoin Mining Ecosystem With Token Sale - August 8, 2017
- Notorious Lobbyist Jack Abramoff to Coach Bitcoin Activists in New Washington, DC-based Reality Docu-series from Blockchain Entertainment and Ignition Creative - August 8, 2017
- ATMChain’s Project In China With 7,000 Intelligent Media Screens ‘Goes Blockchain’ Through DECENT - August 8, 2017
- NEM.io Foundation Partners with Blockchain Global to Expand International Reach - August 8, 2017
- CFTE working with MAS to help ASEAN finance professionals acquire the skills of Finance 2.0 - August 8, 2017
- Rivetz International Partners with LAToken to Boost Marketplace Security on Mobile Devices - August 8, 2017
- investFeed Finishes Successful Token Generation Event - August 8, 2017
- Zen Protocol Unveils Testnet To Decentralize Finance - August 8, 2017
- Blockchain Startup JAAK Announce Official Pilot With Viacom UK - August 7, 2017
- RefToken Releases Blockchain Affiliate Platform Prototype – Announces Token Generation Event - August 5, 2017
- Dash Employs Elite Cybersecurity Service Bugcrowd to ‘Hack’ Its Blockchain - August 5, 2017
- 144,000 Free Spins up for grabs montly in BitStarz’s new Slot Battles! - August 5, 2017
- Stox Token Sale Raises $33 Million in 34 Hours – The Seventh Biggest of 2017 - August 4, 2017
- Swap Announces AIR Token Launch and AIRSWAP, a Decentralized, Peer-to-Peer Trading Platform - August 4, 2017
- investFeed Showcases First Version of Cryptocurrency-Based Social Investment Platform - August 3, 2017
- WePower Launches Blockchain-Powered Green Energy Platform and Token Sale - August 3, 2017
- DECENT Network introduces ATMChain - August 3, 2017
- Neufund Launches ICO Transparency Monitor to Judge ICOs Based on Smart Contract Design - August 3, 2017