The Blockchain, the technology behind the OneCoin operation, began its existence being the account book of Bitcoin.
And apart from Bitcoin, there are many other cryptocurrencies, like the already mentioned OneCoin, and also many other usages.
This invention clearly has a great technological potential for the future, and it’s not surprising that everyone wants to have a piece of it and patent any discoveries that can be added.
There is a long course of innovations, improvements and experimentation from the original blockchain to what it will become in a few years. The core of the technology was made public, supposedly, by its creator. However, every change, every user has been adding some signatures, authorship and patents to it, although there are also many open-source improvements.
This means that in the near future, the blockchain technology may perhaps benefit from the race between various investigations to become the first to discover a new way of using it. But it can also be damaged, because all of those patents can slow down the progress or usability of certain new features. Whatever the case, in the near future, we will be seeing the blockchain developing, hopefully for the better, used globally by different entities and by millions of people. The technology will probably become a little part of everybody. A result of ambition, in part, of the lust for innovation and of the desire to come first to where the world is already going.
There could currently be hundreds of patents related to Blockchain improvements waiting to be accepted. And big financial companies, including banks, are not far behind, as they may become obsolete, if the use of the blockchain and cryptocurrencies becomes public and massive. So, they are looking for new ways to adapt the technology to their own services so as not be replaced.
This war for leaving one’s mark before others in this emerging technology is the clearest sign that the blockchain is going to be the main part of our technological and financial habits of the coming years.