Electroneum Patent

#1

I see that Samsung has a cryptocurrency wallet and now you can pay for things using your new Samsung phone. I also read that IBM is enabling people to pay instantly with crypto.

I thought Electroneum had the patent on this. Are IBM and Samsung using Electroneum’s patent, or did they come up with their own way of doing this?

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#2

Electroneum’s patent is still pending.

I think there are several questions that would need to be answered here:

  • firstly, will Electroneum get their patent granted?
  • secondly, whether Electroneum’s patent would be infringed by these other company’s offering instant payment or have they devised a different way of achieving the same?
  • thirdly, would Electroneum want to go up against Samsung and IBM in a legal battle over patent infringement - we’ve all seen the cases between Apple and Samsung and they havent been cheap
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#3

How long will it take for Electroneum to find out if the patent will be granted? Months? Years?

If IBM, Samsung, and who-knows-who-else can find a different way to doing this than Electroneum, I don’t think we stand a chance of competing with them.

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#4

It’s hard to say.

Patents normally take 12-24 months to be granted and Electroneum’s was lodged in April last year I believe.

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#5

Thank you. :slight_smile:

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#6

No problem.

Here is another page in the forum where a user has linked directly to the patent application:

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#7

Regarding - Would Electroneum want to go up against Samsung and IBM in a legal battle over patent infringement?

Wasn’t it the top Law Firm in London that submitted the patent for them? (The name of the firm escapes me.) I’m sure they checked thoroughly, before submitting the patent for approval.

Something tells me that the Samsung and IBM have devised a different way of doing it. :frowning:

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#8

Patents are notoriously complicated and time consuming.

If they are too vague then you cant map infringement… if you are too specific, then its easy to change small parts and not be covered either.

Electroneum have used one of the worlds best legal firms for copyright, they know what they are doing.

Remember though, the goal of the patent was not to block all other companies and monopolise, but to protect the Electroneum brand and concept whilst bringing credibility to the venture in the eyes of the industry.

Keep in mind that anyone can bring an instant payment platform to their infrastructure, but without the other elements (such as commercial incentive and viral growth from the airdrop or regulatory compliance via KYC) it means very little.

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#9

Correct me if wrong here…
Sitewizard richard online platform for more than 20yrs is still patent pending…

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#10

I thought the goal of the patent was to have all other companies pay Electroneum to use THEIR (ETN’s) patent.

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#11

@4869045f67bd50a3f228

This is obviously the main goal with a secondary goal of millions of users on mass adoption making it just easier to pay with ETNs system in my opinion

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#12

Denton was the firms name I think,

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#13

But these other elements you mention have got nothing to do with the patent application, right? So it’s hard to say how that last para—whilst true—is relevant in this context…?

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#14

That’s right, and there are I’m sure aspects in the patent that are specific and unique to the way etn have designed their hybrid system.

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#15

Well…with all the news coming out about IBM and also Samsung, I wish an official from Electroneum would tell us SOMETHING. I remember a video awhile back where Electroneum was saying something to the effect of - Our patent is so all-encompassing that others will want to use the technology and will have to pay us to use it. (Or something similar to that.). That was a big reason why I invested in ETN.
Now, that huge companies are getting into crypto payments by cell phone, we don’t hear a word about the pending patent.

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#16

Have we not learned anything over the past year. Richard and team have been a few steps ahead and they actually listen to the community. If Richard thinks it needs to be addressed it will. Just sit back relax and ride the wave. There will be sandy beaches and cocktails on the other side. Richard in my opinion is one of the best players in the game and we are in good hands.

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#17

Sorry, Muenortcele.
I tend to be a HUGE worrier. I always think I’m making a great investment, and then wind up “losing my shirt”. It’s happened to me so many times before. I just don’t want it to happen again. :cry:

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#18

My advise is to not over extend yourself. Do not invest more than you are willing to lose. If you’re worried about losing money just don’t sell yet. You don’t need to put more in if you’re not sure, take that time to research the project more. Price isn’t everything. Think about bitcoin in its first years, it’s not all about instant profit. Don’t think so much of your investment and remember what you’re investing in, think about the progress your investment is making besides fiat return. Is the company growing and getting closer to their goal, yes they are constantly breaking new ground. This is how long term investors think, it is not about instant gains. There are always growing pains, there is always competition. If you’re investing in the brand and not the instant return you will look at it a different way. Electroneum has constantly been advancing towards their goal. They have accomplished so much this last year in regard to their roadmap and progress and there are many more advancements to come. Changing what they need to and jumping every hurdle. Every person feels some way when our investment is down, but that doesn’t mean the company isn’t doing what is needed for the future. This is a long journey and this is just the start, even without the patent that does not change vision of what they will achieve. It is not about one single thing but the entire ecosystem Electroneum is building, it all works together. It would be icing on the cake we will see what happens but patents take time to review. These are just my thoughts . Hope this helps :+1::wave:

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#19

No worries, We are all here for the same reason because we trust ETN. I have been in since ICO and only invest what I can afford to lose. With that said from what I have seen in crypto is there are no guarantees and price will move up and down. I have not sold not a single ETN only accumulate to bring my cost average down. I bought ETN all way down from all time high of 23 cents. I know that once this thing goes you will not have time to catch it. It will take just the right partnership and we will be looking really good. Not investment advise but my personal opinion. One thing to remember is ETN is KYC compliant once everything is out and working properly the deals will follow why because we are compliant with the laws to be. Good Luck.

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#20

Okay, thanks both PrestoCrypto and Muenortcele. :slightly_smiling_face:

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