It is called the Cowboy state for a reason. With varied terrain and a hearty population Wyoming has long been a haven for independent thinkers and doers – pioneers. The Wyoming legislature recently underscored that truth with the first state law addressing governance issues for decentralized autonomous organizations or “DAO(s).” We are not talking self-driving vehicles here. Those will not work on Teton mountain road switch backs. This is all about future vision of decentralized digital finance. A new gold rush for the west for those states who embrace it and Wyoming is doing just that. This March it passed senate bill SF0038 which provides for additional protections similar to those offered to members of limited liability companies for members of a DAO.[1]
Continue Reading Wyoming Takes the Lead With Decentralized Autonomous Organizations
Distinguish “Smart Contract” From Abstract Idea To Pass Blockchain Patentability Scrutiny
The Situation
Smart contracts are often mentioned in blockchain-themed patent applications and recited in claims. However, Examiners without a thorough understanding of this concept or unfamiliar with blockchain technology often equate smart contracts with legal or commercial contracts stored on blockchains. As a result, the Examiners may find claims directed to merely applying the blockchain technology to execute legal or commercial contracts, for example, as part of a commerce system, like hedging. See, e.g., Alice Corp. Pty. Ltd. v. CLS Bank Int’l, 134 S.Ct. at 2356 (citing Bilski v. Kappas, 561, U.S. 593, 611 (2010)).Continue Reading Distinguish “Smart Contract” From Abstract Idea To Pass Blockchain Patentability Scrutiny
Blockchain Patentability Through The Lens Of A Recent PTAB Decision
Blockchain patent applications may be divided into two types: underlying technologies of blockchain, such as consensus methods, security, etc., and applications of blockchain in, e.g., fintech, legal, and other industries. In patent examination, the first type, because it recites underlying technology improvement, rarely elicits subject matter rejections. The second type, applications of blockchain, are often found to be directed to an abstract idea. This article analyzes a recent Patent Trial and Appeal Board (PTAB) decision in a blockchain patent application and explores drafting and prosecution strategies to anticipate subject matter scrutiny.
Continue Reading Blockchain Patentability Through The Lens Of A Recent PTAB Decision
Regulatory Approaches to the Tokenisation of Assets
The Organisation for Economic Co-operation and Development (OECD) published a report on Regulatory Approaches to the Tokenisation of Assets (Jan. 2021). The report notes that: “Policy makers in different jurisdictions have approached tokenisation in different ways, either by applying existing financial regulations to tokenised assets; by introducing new tailor-made regulatory frameworks or by adapting existing rules to accommodate the application of DLTs in tokenisation.” Some of the key takeaways from the report are:
Continue Reading Regulatory Approaches to the Tokenisation of Assets
Blockchain and EU Competition Law
There are a number of uses of blockchain technology which may give rise to competition concerns. As a distributed ledger where transactions are recorded in real time and are accessible to everyone within that network, blockchain makes at least some transaction information accessible to users within the network. The available information can provide insights on highly sensitive commercial business transactions and/or strategies. Blockchains can also be seen as a decentralized model of data storage including payment transactions, purchase history, corporate accounts, pricing history as well as future changes to pricing. These characteristics can expose users of blockchain technology to competition law concerns, the most obvious of which are detailed in our whitepaper.
Continue Reading Blockchain and EU Competition Law
Google Partners with Theta Labs as Validator Node
As part of a multi-faceted deal, Google will become a validator node for Theta’s Mainnet 2.0. As part of the deal, Google Cloud will become Theta’s preferred cloud provider. Theta also plans to further collaborate with Google’s artificial intelligence, machine-learning and big-data initiatives. Another big draw for Theta is that Google owns YouTube. According to Theta, Youtube’s internally-developed technology for video delivery and streaming makes experimentation a lot easier.
Continue Reading Google Partners with Theta Labs as Validator Node
Powered by Blockchain
A recent report indicates the use of blockchain technology in the energy sector is continuing to grow. According to the report, the global market for this use of blockchain technology is anticipated to grow at a CAGR of 52.9% during the forecast period 2018-2026. One of the big drivers of this growth is that some of the biggest technology companies are investing in making this technology available for the energy sector. The payers include: Accenture, Oracle Corporation, Microsoft Corporation, Deloitte, IBM Corportaion, Grid+, NOdalblock, SAP SE, Power Ledger Pty. Ltd. and Amazon Web Services, Inc., to name a few.
Continue Reading Powered by Blockchain
Azure Heroes – Microsoft Partners With Enjin to Offer Crypto Collectible Rewards
Microsoft has announced a partnership with Enjin to offer a blockchain based recognition program. Azure Heroes aims to reward individuals for verifiable acts of impact such as coaching, creating demos, building sample code, blogging about Azure or completing certain challenges. Community members that have demonstrated their contributions will be recognized with badges across a number of categories. Azure Heroes is branded as a new and fun way to earn digital collectibles for meaningful impact in the technical community.
Continue Reading Azure Heroes – Microsoft Partners With Enjin to Offer Crypto Collectible Rewards
Blockchain Technology Continues to Support a Flourishing Music Industry
For the first time since 2007, the Recording Industry Association of America is reporting that the United States retail music market is on its way to becoming a $10 billion market. Streaming royalties account for a majority of this growth along with new use cases entering the marketplace. New technologies and content offerings have and continue to drive this growth. Innovation in the music production and distribution spaces lowered the barriers to entry, allowing unsigned artists to create professional recordings and distribute their music worldwide. This changing landscape ⸺ including the proliferation of music streaming and new licensing schemes ⸺ has underscored the need for advancements to streamline licensing processes, track, collect and pay royalties, and facilitate more efficient contractual processes.
Continue Reading Blockchain Technology Continues to Support a Flourishing Music Industry
Blockchain Continues to Make Headway in the Energy Industry
Recent developments in the energy sector indicate that blockchain technology is being embraced to address a range of issues including network security and improved integration of renewable generation and demand response resources. This emerging technology continues to have the potential to become a disrupter in the energy industry.
Continue Reading Blockchain Continues to Make Headway in the Energy Industry