Craig Wright, the Chief Scientist at nChain, Bitcoin SV [BSV] proponent and self-proclaimed Satoshi Nakamoto, is in the news again. This time, Wright has targeted JP Morgan, the sixth-largest bank in the world, in terms of total assets held.
On 14 February, the investment bank announced the introduction of ‘JPM Coin,’ the first cryptocurrency launched by a US Bank and backed completely by the US dollar. The JPM Coin will be tested over the next few months and will eventually be used to settle payments with the bank’s clients.
Craig Wright, however, tweeted that the JP Morgan’s new coin will require an entire overhaul of the current technology, technology for which patents are required. Wright has claimed that he holds the patent for such a technology.
His complete tweet is as follows:
Oh, you did not check?
I have patents on what you want to do.
Have a nice life.”
Craig Wright replied to his tweet above by attaching a patent titled, “Systems And Methods For Implementing Deterministic Finite Automata (DFAs) via A Blockchain”.
The patent numbered WO 2018/078584 AI reads,
“The invention relates to a technique for implementing, controlling and automating a task or process on a blockchain such 00 as, but not limited to, the Bitcoin blockchain. The invention is particularly suited for, but not limited to, automated execution of contracts 00 such as smart contracts for financial agreements.”
When asked on Twitter about the patents that directly go against the JPM Coin, Wright clearly responded with ‘DFAs,’ suggesting that they are the centerpiece to his patent, which will help him stand against the large financial institution.
As per the patent, a DFA is:
“A DFA is a mathematical model of computation conceived as an abstract machine which can be in one of a finite set of states, and can change from one state to another (transition) when a triggering event or condition occurs. Its computational capabilities are more than those of combinational logic but less than those of a stack machine.”
This week has been quite eventful for the nChain executive, who also got into a Twitter feud with WikiLeaks. The Julian Assange-run organization called Wright a “Serial Fabricator,” and even produced evidence to debunk his claim of being the real Satoshi.
According to WikiLeaks, Craig Wright re-edited an August 2008 blog to falsely suggest his involvement in the cryptocurrency space. Wright has long maintained a negative outlook about Wikileaks, calling them a “fake news cesspool” and comparing its founder Julian Assange to Ross Ulbricht, the man behind Silk Road.
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