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Does anyone know what is going on in here when it says TAAL filed a layer 1 token patent? Here's the press release: https://www.taal.com/news/5819/ The title starts out with "TAAL FILES SECOND PATENT FOR LAYER 1 TOKEN TECHNOLOGY...." OK, so TAAL has filed a patent? But then I am confused because the actual content says: "TAAL Distributed Information Technologies Inc. announces that its operating subsidiary has filed a second patent application (the “Patent Application”) with the United Kingdom patent office with respect to its newly acquired Layer 1 token blockchain technology for the BSV (Bitcoin SV) network." So TAAL has an "operating subsidiary" company? And then later it says: "In April 2020, TAAL entered into a US$1m licensing deal with nChain Group Holdings Limited (“nChain”) to secure access to critical IP to support its development of transaction processing capabilities." So does this mean the "operating subsidiary" is NChain? Or that there's an "operating subsidiary" which licensed the patent from Nchain? But if that's the case, why would they say TAAL has filed a patent? I'm really confused.
monbon tipped:
0.05 USD
1 year ago
Hey@musiq. Yeah... not always the easiest to follow with these companies. Especially back with all the buy/selling of equipment associated w/ Ayre, and then the lawsuits, and then the investment and variable lock-up periods, and ultimate settlements, etc... None of the announcements have been that clean. It's like reading a transcript from CSW in the Kleiman lawsuit - you're left scratching your head! In this case, when they say subsidiary - they likely mean TAAL Technology SEZC. When they say second patent... they mean second ever, since their first was a blockchain mechanism for generating random numbers... filed back in April. https://coingeek.com/taal-files-patent-for-blockchain-computing-device/ I take this new patent to be one built on the foundation of nChain patents (they built some, but they also but a bunch from a Slovenian company a while back... trying to make a patent shop powerhouse). So, TAAL's patent, but riding on nChain's back. If you recall, after Jerry was transplanted from Bitcoin Association to take over TAAL (kind of like Elop going from Microsoft to Nokia... and then transitioning Nokia to Microsoft OS for smartphones)... TAAL executed a deal with nChain for a non-exclusive right to usage of nChain's patent portfolio. I think it was $1M for a year. Now, most would look at this as a "smart" move to try and get a "bargain rate" as an early complier. A more jaded person (e.g., someone who lost more money than they wish to count on ultimately ill-fated patent enforcement dreams in MARA, and elsewhere) would say it was a coordinated attempt, in-house (since there's very little distinction between Ayre, CoinGeek, TAAL, TAAL Tech, nChain, etc.) to "validate" the patents and set a floor for patent valuation. Thus, when nChain begins to sue folks for using their "tech" (which I anticipate they will start unleashing before long) - they will point to the TAAL deal as an independent valuation of what the other companies should pay. They will call that a floor and look for more as they will say that they cut TAAL a real deal as the first compliant party. The real question will come down to enforce-ability of the patents. Trying to monetize through patents often turns out to be a loser's game with only lawyers winning. You've seen the length on the Kleiman case... that's not unusual. So, the one's that win are the one's that are resourced well enough to fully litigate and, being even more cynical, buy the rulings they want. I've seen it happen w/ Google and others... you can't pick a fight with Google, Amazon, Microsoft, etc... they are just too big. The way to win the patent game generally is to have well understood and well appreciated patented tech that people want and are willing to pay reasonable rates for... . If it comes to litigation, more often than not - everyone loses and if they lose a case against a juggernaut... the patent becomes worthless to try and enforce against small-time actors and the portfolio is undermined and the company goes under. So, you have to ask yourself if the other cryptocurrency/exchanges out there are the "let's comply and pay a fair value" type or "screw that, break and build things... deal with consequences later" type. I think they generally are the latter. Then, you have to ask... who has more resources to see multi-year litigation through... nChain/Ayre or everyone else. I almost think the community at large would swallow a poison-pill vs even hint at validating Ayre/Wright and taking away the dream of open-source, freedom-loving/building, P2P cash. I have some TAAL - but I look at TAAL's licensing from nChain as a gift from shareholders to nChain. Ultimately though, it's a self-interested gift. IF, a big IF, the patents are validated by more independent/legitimate parties - you can see some real gains and some benefits from having unfettered/low cost access in a public company to the privately-held nChain portfolio. You have to parse though this stuff when reading Tweets from folks like Ayre. When he says the only chain that will be called bitcoin in a couple years will be BSV... does he mean because of universal adoption/appreciation of Craig and BSV... or does he mean because of an armada of lawyers wasting time in court trying to litigate-away names and features or hold hostage for fee payments. Dicey road... I know there are nChain, TAAL people here on powping... but doubt they will touch this community with a 10-ft pole due to fears of disclosure requirements, insider info sharing, discovery in future lawsuits (both theirs against other companies and, if things go south, investors against them for violating fiduciary responsibility). All that said, I have some TAAL and hope for some very rapid validation / acceleration of value. I'm just not banking on it...
musiq tipped:
0.81 USD
1 year ago
michaelwehrmann tipped:
0.09 USD
1 year ago
monbon tipped:
0.09 USD
1 year ago
cog replied:
Kevin Ayre's business dealings is literally the two spidermans pointing at each other meme.
musiq replied:
Wow thank you for the great answer. Makes everything clear for me.
adonsats replied:
How can I get those TAAL too ?
meaning , TAAL , is THE side chain ? XD