Since 2013 JP Morgan has made 175 attempts to patent their own blockchain technology 🤣

"Bitcoin is a Fraud". These are almost like 'famous last words' spoken by JP Morgan's CEO Jamie Dimon back in september of 2017. To the mainstream it will have sounded as advice, but in the crypto-communities it was often referred to as downward price-manipulation. Further solidifying these accusations, it turns out JP Morgan has (unsuccesfully) filed over 175 patents for 'bitcoin competitors' for at least five years.

PATENT ON FRAUDS

Of course the latest news is that even big banks like Goldman Sachs and JP Morgan are now interested in cryptocurrencies, or even looking to provide services like Bitcoin Futures trading and ETF's. But a while ago it seemed like many banks were outspoken and negative about cryptocurrencies. Jamie Dimon of JP Morgan was among the most public and outspoken against Bitcoin specifically, calling it a fraud back in december of 2017.

As irony would have it a screenshot is now circulating showing a list of 175 attempts to patent blockchain technology in some way, shape of form. Perhaps most interesting of all is that the screenshot shows this has happened as far back as December 10th 2013 (which interestingly enough coincides roughly with the same date when the last major bubble popped). Have a look at the screenshot and tweet below:

It was Tweeted by N1njaWTF on Twitter and reposted on Reddit.

(source: Twitter)

I used google to search on some of the text of these articles and it brought me to the actual articles like this one on zerohedge and this one on CNN. I didn't search for the others but I'm sure they will all pop up on Google.

Reading through these original articles from back in the day, it becomes clear that all 175 patent attempts were made over five years ago. It's also weird that the CNN article states that JP Morgan has acquired a patent, yet the other article only speaks about the failures. Same as with the Tweet.

Regardless of how useful this news is right now, one thing that it does expose is the fact that banks have a significant interest in Blockchain and have had it for many years. They are not finding out about it just now. And when they speak out against cryptocurrencies they probably do indeed do so fully knowing what effect it will have on the markets.

I also think that if they've tried to file 175 patents all the way back in 2013 then it's very likely that they have not stopped doing so since. I can only imagine how many extra patent claims they have tried to file since.

(Art by Roy Lichtenstein)