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Felix Mollen

Articles by Felix Mollen

Want a Bitcoin ETF? Try Waiting Until 2023, Wilshire Phoenix Co-Founder Says

7 days ago

The massive cryptocurrency boom during the latter half of 2020 and the first half of 2021, coupled with a wave of institutional investors betting billions of dollars on the growth of the ecosystem, helped raise optimistic expectations around the approval of a Bitcoin ETF in the United States.
But one of the previous (unsuccessful) applicants for a Bitcoin ETF believes the odds of this happening anytime soon are very low.
Want a Bitcoin ETF? Better Wait
According to Wilshire Phoenix co-founder William Cai, the SEC does not intend to approve a cryptocurrency ETF anytime soon, despite pressure from prominent investors, entrepreneurs, and even influential politicians.
Speaking with the financial outlet Business Insider, Cali commented that his expectations would be set around

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Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

9 days ago

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.
According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.
The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.
What Amazon is Looking For
The expert must have at least an MBA or equivalent degree, 10+ years

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45% of the Ultra-Rich Are Interested in Crypto, Goldman Sachs Reports

11 days ago

While the world worries about the fall of Bitcoin prices, billionaires are increasingly enamored with the cryptocurrency.
A recent Goldman Sachs study revealed that at least 45% of family offices are interested in investing large amounts of money in cryptocurrencies.
Family offices are firms in charge of managing the money of billionaires such as Amazon’s Jeff Bezos, Google co-founder Sergey Brin or Alibaba’s Jack Ma. Generally, each office manages the wealth of a family.
Family offices usually tend to put their clients’ money in profitable but traditional investments such as private equity, real estate, or investment funds. Still, according to Goldman Sachs, the growth of cryptocurrencies has begun to attract the attention of an increasing number of billionaires.

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Holding Bitcoin Right Now is Dangerous, Fund Manager David Tice Says

13 days ago

Bitcoin’s fall to the perilous support of $30K has made investors increasingly cautious, and warnings of a bearish force are already beginning to emerge even if the markets have already lost almost 50% of their total capitalization since the ATH just 3 months ago.
Among the bearish voices is David Tice, a seasoned investor known for managing the Prudent Bear fund until he sold it in the midst of the 2008 crisis – coincidentally, the crisis that gave rise to Bitcoin.
Hodling BTC is Dangerous
In an interview for Trading Nation, David Tice lived up to his reputation as a pessimist (just like his former fund) and warned about the dangers of investing in Bitcoin under current conditions.
David Tice explained that Bitcoin’s rise to $60,000 was extremely dramatic from his point

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PayPal Raises Limit on Cryptocurrency Purchases to $100K Per Week

17 days ago

PayPal’s decision to support operations with cryptocurrencies has brought outstanding results, and a few hours ago, it just hit the gas pedal and increased the limit on cryptocurrency purchases giving its customer more freedom to buy their beloved digital assets.
According to an Official PR, duly registered customers will now be able to buy up to $100,000 in crypto per week, without any other monthly or yearly limit. The company assured that the move comes in response to the feedback from its clients:
As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we have recently raised the purchase limits of cryptocurrency for eligible PayPal customers in the U.S. to $100,000 per week with no annual purchase limit. These changes

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Dogecoin Creator: Cryptocurrency is Like Taking The Worst Parts of Today’s Capitalist System

18 days ago

Despite his legendary status within Crypto Twitter, the creator of Dogecoin, Jackson Palmer, doesn’t tend to interact much with the community. He usually shows up, makes a statement, causes a stir, and disappears.
Today, in one of his occasional rants, Palmer decided to talk about the degeneration of the crypto community and why he has not plans to get involved with cryptocurrencies ever again.
The first reason seems to be the ethos behind the technology. Beyond the preachings of financial freedom, Palmer believes that crypto is nothing more than a right-wing tool to give more profits to the wealthy by removing the government’s regulatory powers:
After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built

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Sotheby’s Sells Diamond For $12 Million in Cryptocurrency

22 days ago

Cryptocurrencies have many use cases and vanity is one of them.
Sotheby’s, one of the world’s most renowned auction houses, announced yesterday the sale of the second-largest pear-shaped diamond ever to be sold publicly, and the buyer paid in cryptocurrency.
The auction house did not disclose the winner’s information, but according to an updated information shared by Sotheby’s, the mystery bidder paid for the diamond using cryptocurrency. Sotheby’s had announced in advance that it would accept Bitcoin or Ether as a form of payment.
The actual diamond auctioned by Sotheby’s. Image Sotheby’s via TwitterA $12 Million Diamond
The diamond sold for about $12 million, making it the most expensive physical object ever auctioned using cryptocurrencies.
Previously, the

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America’s First Legally Recognized DAO is Finally Here

28 days ago

The world finally has its first legal DAO, thanks to developments in the state of Wyoming.
The American CryptoFED DAO, an organization dedicated to creating a monetary system resilient to fluctuations in value, received notice from the Wyoming Secretary of State’s office that its project had been officially recognized as a DAO in the United States.
This is a major step for the project and decentralized governance initiatives. It shows that the U.S. is open to recognizing organizations with innovative structures, even if they lack a centralized hierarchy.
Wyoming Becomes The First DAO-Friendly State in the US
DAO is the acronym for decentralized autonomous organization. It is a way of organizing a community through the use of blockchain technology to make consensual

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Fed Chairman Jerome Powell Met With Leaders of Coinbase, Digital Dollar Project

28 days ago

Coinbase executives continue to move among the big names in the financial landscape. This month, it was the turn of none other than U.S. Federal Reserve Chairman Jerome Powell.
According to Powell’s working schedule for May, the head of the Fed had a face-to-face meeting with the head of the cryptocurrency exchange Coinbase Global Inc. on May 11.
Paul Ryan, a former Speaker of the U.S. House of Representatives, was also invited to the event.
The meeting lasted half an hour, and no further details about what topics were discussed, nor who led the discussion, are being disclosed. Bloomberg attempted to contact the Fed and Coinbase, but neither party would comment.
Coinbase and the American Crypto Scene
Coinbase has been playing in the political big leagues for some time. In

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Is Crypto Winter Here? Experts Share Their Points of View

June 27, 2021

If Bitcoin’s fall from $62,000 to the perilous $30,000 mark seems scary, then buckle up: Some analysts believe it could get even worse… And if conditions remain the same, that is very likely to be the case.
The sharp drop from $60,000, the arrival of the infamous death cross, the bad news coming out of China, and the lack of institutional appetite seem to be acting together to maintain a bearish mood in the markets and laying the groundwork for a brutal, cold crypto winter.
Brace yourselves: Is Crypto Winter Coming?
In a statement compiled by The Wall Street Journal, DailyFX analyst Peter Hanks said that it is easier to see red candles than green on price charts for the foreseeable future.
“I think bitcoin is certainly headed for more losses here … If it breaks [below

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UK Bank Bans Crypto Purchases From Binance and Kraken, Reports

June 20, 2021

British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud.
According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country.
TSB Could Be Cutting Ties With Crypto Exchanges For Safety Reasons
The Times claims to have reliable information that TSB is going to ban the purchase of crypto with cash via Binance and Kraken. Apparently, the low security standards of these platforms facilitate the works of scammers, in particular the setup of e-wallets.

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29% of Crypto Investors in the UK Check Their Balance Every day, Study Finds

June 19, 2021

People in the UK are more interested in Bitcoin and crypto today than in any other year, including 2017, when the digital asset boom was at its peak.
According to a UK’s Financial Conduct Authority survey, about 78% of adults have now heard of cryptocurrencies, and more than 2.3 million people in the UK hold or have owned cryptocurrencies at some point.
Crypto is a Serious Investment
The way British people think about crypto has changed dramatically. The FCA mentions that investors no longer see cryptocurrencies as a gamble but rather a serious investment or alternative to traditional investments. The gambling option dropped 9% to 38% in popularity.
Also, people are more aware of fluctuations. The number of investors who check their balances daily increased to 29% – more

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Taproot is Here: Miners Lock In Bitcoin’s Biggest Upgrade in Years

June 13, 2021

Bitcoin is finally one step closer to make history with Taproot, a major event perhaps as important as SegWit or the last halving.
Taproot, the most ambitious Bitcoin update since 2017, has been finally approved by miners and was locked in for implementation in November this year.
Taproot is (Or Will Be) Finally Here!
Because of its decentralized nature, the deployment of a Bitcoin update must go through an approval process and cannot simply be released to the world at the will of the Core developers.
In the case of Taproot, miners had to reach a consensus and send a signal that they were ready to support it. 90% of the blocks mined during a difficulty period needed to have a signal, and today the milestone was achieved.

A difficulty period is the amount of time that

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Reddit Cofounder Alexis Ohanian Says He Has ‘A Lot’ Of Ethereum

June 11, 2021

Alexis Ohanian is a versatile man: billionaire, philanthropist, founder of Reddit, Initialized Capital, and husband of the famous tennis player Serena Williams.
Recently, Seven Seven Six, his new venture firm, closed a funding round after raising 150 million dollars, a feat that brought him to the media’s spotlight, eager to know his vision about the business world… and the future of cryptocurrencies.
How Much ETH Does Ohanian Owns?
In an interview for CNBC, Ohanian devoted a portion of the discussion to praising Ethereum. Beyond the fine words, he also said that Ethereum comprised a significant part of his funds invested in cryptocurrencies.
When asked about the most promising cryptocurrencies in the ecosystem, Ohanian assured that Dogecoin was off his radar and proceeded

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El Salvador Will Use Its Volcanoes To Power Bitcoin Mining Facilities

June 10, 2021

When it comes to Bitcoin, the president of El Salvador does not know what it means to go slow. Over the weekend, he announced that he was working on a proposal to accept Bitcoin as legal tender. 3 days later, he introduced the bill to the Assembly, and hours later that same day, the bill was passed and became law.
Well, now, just hours after this historic event, the president of El Salvador announced a new move to promote Bitcoin mining —100% clean, so Elon Musk can calm down.
El Salvador: How To Turn Full Time Bitcoiner Faster Than The Speed of Light
It is difficult to say for sure if the president of El Salvador was considering mining Bitcoin prior to to the annoucement. However, during a Twitter Conference that took place while the Congress was discussing the Bitcoin

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Toxic Bitcoin Maximalism is Bullshit, Erik Voorhees Says

June 6, 2021

ShapeShift CEO Erik Voorhees is no shy when it comes to expressing his opinion about politics, finance or Bitcoin maximalism —no matter popular or unpopular they might be.
During an intervention at the Bitcoin 2021 conference in Miami, Voorhees criticized an earlier panelist’s comment praising toxic Bitcoin maximalism, saying that such thinking was, erm, wrong – to put it in more civilized terms.
Bitcoin Maximalism: A Bug or a Feature?
Just minutes before Erik Voorhees took the stage to moderate a panel on the evolution of cryptocurrency exchanges, a debate entitled: Toxic Maximalism: A Feature not a Bug took place.
In this debate, Dr Bitcoin MD, Nico ZM, Aleksandar Svetski, BTC Lerk and Nik Hoffman argued that extreme views in Bitcoin were important to keep the philosophy

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One of Belgium’s Largest Banks Could be Considering Launching a Token, Reports

May 30, 2021

KBC, one of the largest insurance and banking companies in Belgium, announced its plans to launch its own cryptocurrency, slightly changing its approach to digital assets.
KBC Coin, the bank’s native cryptocurrency, would be a kind of reward token that would allow the bank to develop interaction strategies with its customers, promote its platform, and compel users to adopt its services.
KBC Coin Is Almost Ready
The bank shared the announcement during the presentation of the first months of ‘Kate,’ the virtual assistant included in the banking app.
At the moment, KBC Coin is not available to the public, but it is already in the testing phase via a private environment. The bank has not disclosed further details regarding the project’s roadmap.
In addition to the regulatory

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Goldman Sachs Explores Crypto as an Asset Class, Reconsidering Old Stances

May 23, 2021

Goldman Sachs, one of the most important banks in the United States -and the whole world- released a report on cryptocurrencies, and its content is quite promising for the ecosystem.
The report “Crypto, a new asset class” is not yet available to the general public. Still, it has already been shared on social networks by investors with early access to these investigations.
Alex Krüger, founder of asset management firm Aike Capital and active Crypto Twitter commentator, shared part of the report, saying it should be available in full “whithin a few days.”

Crypto, a new asset class – quite a comprehensive report by Goldman.
— Alex Krüger (@krugermacro) May 21, 2021
Experts Tell Goldman Sachs Why Cryptocurrencies Are Proving Their Value
The report

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Crypto Twitter Mocks Elon Musk After He Tried To Bully Michael Saylor

May 21, 2021

It seems that Elon Musk is not the nice guy on the neighborhood aymore. Instead, people could be getting tired of his tweets —or maybe the losses after the flash crash following his claims that Bitcoin was dangerous for the environment were the last straw for many cryptocurrency enthusiasts who are no longer afraid to criticize him.
Recently Elon became the trolled troll of Crypto Twitter. Just moments after he tried to mock Michael Saylor, the CEO of Tesla received so much negativity that he quickly had to step back.
Elon Gets Ratioed on Twitter
When Saylor disputed the veracity of an article about Bitcoin’s energy problems, Elon Musk promptly rushed to mock him, calling him “Gigachad.”
Elon got ratio’d in no time. The reactions were so negative that he quickly deleted

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Coinbase Announces Its Intention to Raise $1.25 Billion. Will It Mirror MicroStrategy?

May 18, 2021

Coinbase’s IPO was great news for cryptocurrency enthusiasts. Still, since that time, the company’s share price has done nothing but slide. In the midst of that collapse, the leading U.S. cryptocurrency exchange is looking for an even more significant cash infusion.
As per a P.R. published a few hours ago, the U.S. company revealed its intention to offer $1.25 Billion of Convertible Senior Notes Due 2026.
Coinbase Wants To Speed Up Its Growth
The offering would be private and accessible only to institutional investors pursuant to Rule 144A promulgated under the Securities Act of 1933, i.e., those managing at least $100 million in securities issued by other companies.
Coinbase’s decision comes just days after it reported over $1.8 billion in total revenue for the first

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Coinbase Reports Record Revenue and Says It Will List Dogecoin in 6 Weeks

May 13, 2021

Coinbase has had a spectacular 2021. The company announced $1.80 billion of revenue, $585 million more than the fourth quarter of 2020, and $191 million more than its results from a year ago.
Much of these numbers are driven by the growing interest in cryptocurrencies. 56 million users and 6.1 million monthly transactions put the company right on the money radar, primarily since Coinbase benefits from the fees generated by every trade made on its platform.
The IPO was also good news for Coinbase, which has benefited from increased confidence in its brand. Being fully regulated, Coinbase has become a benchmark for U.S. institutions and investors looking to increase their exposure to cryptocurrencies.

Coinbase Global, Inc. announced today the release of its first quarter

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The Number of Bitcoin Whales Is At a Yearly Low, Here’s Why

May 12, 2021

Apparently Bitcoin whales are not as loyal to their tokens as they are to the dollar value they represent. As time goes on and BTC fails to resume its bull run, there are fewer and fewer people with large amounts of Bitcoin in their wallets.
According to data from blockchain analytics firm Glassnode, the number of Bitcoin whales has been in steep decline since the beginning of 2021, going from 2,237 on February 7 to 1,943 earlier this week.
Bitcoin whales over time. Image: GlassnodeWhy Are Bitcoin Whales Dumping Their Coins?
Such decline could have a number of causes, but the main ones could be:
The drop in bitcoin prices —or at least its slower price trend— is discouraging accumulation, making it unattractive to hodl tokens that lose value over time —especially in a

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Square Reports Record-Breaking Revenue, Driven by Bitcoin Purchases

May 7, 2021

The electronic payments fintech Square Inc. proved with numbers that Bitcoin is good for business, and its financial results are the best evidence.
Square Inc.’s quarterly sales more than tripled, thanks mainly to the recent interest in cryptocurrencies by the general public.
Bitcoin Means Business
In a letter to its shareholders published this week, Square Inc. revealed that in the first quarter of 2021, it achieved a gross profit of $964 million, representing a 79% increase year over year. The company also reported that sales processing revenues totaled $468 million, up 32% year over year and that Cash App generated a gross profit of $495 million, which was 171% more year over year.
Square Financial Results. Image: SquareThe company revealed that much of its revenue is

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Bitcoin, Stocks Crash After Janet Yellen’s Statements of a Possible Rise in US Interest Rates

May 5, 2021

A brief panic episode following a statement by Janet Yellen caused the markets to close the day with red candles all over the place.
In a videoconference with The Atlantic, Janet Yellen, the U.S. Treasury Secretary, signaled that Joe Biden’s administration may be aiming to raise interest rates as a way to save the economy after the imbalance caused by measures to combat the Coronavirus pandemic.
A *Not So* Good Idea
When asked about what actions would be on the table to stimulate the economy in the aftermath of the crisis, Yellen explained that they were considering reallocating some investment and changing some policies, adding that interest rates could rise soon. She was, however, emphatic in pointing out that any change would be modest.
It may be that interest rates

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House of Representatives Passes Bill to Create a SEC-CFTC Crypto Taskforce

April 30, 2021

U.S. regulators are looking for ways to organize and adapt their laws to the rapidly changing world of cryptocurrencies.
A bill to create a joint force between the SEC and CFTC to better understand and regulate cryptocurrencies has already been passed in the House and is ready to be introduced in the Senate.
The Eliminate Barriers to Innovation Act of 2021 seeks to shed some light on the complicated regulatory landscape that hinders the development of cryptocurrency businesses in the country.
A Bill to Organize The Mess
Currently, in the United States, there are different criteria due to the multitude of entities involved in the supervision of various economic activities. For example, the IRS, the CFTC, the SEC and the OCC sometimes have discordant opinions in key aspects

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Binance Stock Tokens Could Violate Securities Laws, German Regulator Says

April 29, 2021

Germany’s Financial Supervisory Authority is investigating Binance for its offering of tokenized shares and is already holding a preliminary opinion that doesn’t look too encouraging for the world’s leading crypto exchange.
According to a legal opinion published on its official website, the Bundesanstalt für Finanzdienstleistungsaufsicht —or simply BaFin— considers that Binance would be violating securities laws by issuing shares of publicly traded companies like Tesla, regardless of whether or not they are being exchanged on the blockchain.
If It Looks Like a Security, Smells Like a Security, and Behaves Like a Security…
A tokenized share is the representation of a stock on a blockchain. It is in theory backed 1:1 by real shares purchased by Binance. Tokens behave

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After Two Red Weeks, Bitcoin Is Nearly As Oversold As In March 2020

April 25, 2021

Bitcoin closed the week with the second-largest red candle in its entire history, testing lows near the $47k price zone following an ATH of $64K recorded in the previous week.
Overall, this was a tough week for markets across the board. From stocks to cryptocurrencies, traders experienced an episode of collective panic marked by the rumor that Joe Biden would be preparing a bill to increase capital gains taxes by almost 100% for all those generating more than $1 million in profits.
BTC Registers Its Second-Largest Red Candelstick Ever
The news caused a widespread drop in the most important financial indices in the United States and other countries. And cryptocurrencies had an even worse reaction, with Bitcoin confirming its downtrend after breaking the support of a channel

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Markets Dump Hard After Rumors of More Taxes on Capital Gains in the US

April 23, 2021

Today was a difficult day for the markets in general, with most assets and investments registering red numbers amid a general panic episode.
The primary reason seems to be the rumor that U.S. President Joe Biden —who seems interested in thigtening the crypto regulations in the US— may be ready to submit a proposal to the Congress to increase the capital gains taxes.
Rumor has it that the rate would nearly double what investors currently have to pay. The story – which first appeared on Bloomberg before spreading like wildfire— says that Biden’s idea is to impose at least a 43.4% tax on millionaire investors in order to sustain some social programs.
Markets Crashed After Rumours of More Taxes in The US.
The proposal, according to what insiders said, only applies to those who

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Weiss Crypto Ratings: There Won’t Be An Ethereum Killer Anytime Soon

April 22, 2021

The recent rise of ETH and the popularity of DeFi projects have caused a massive increase in transaction fees on the Ethereum blockchain.
However, operating in Ethereum has become a real pain, and several alternative projects are trying to establish themselves as a better option for the markets. But can any of them become the Ethereum Killer? experts are not so sure.
Weiss Crypto Ratings is Skpetical About “Wannabe ETH Killers”
Weiss Ratings is a market analysis and risk rating firm. Its crypto branch, Weiss Crypto Ratings, is dedicated exclusively to the study of digital assets based on blockchain technology. In a recent tweet, its analysts explained that despite all of the major complications, it is unlikely that an Ethereum killer will emerge, no matter how promising

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IBM is Working to Turn Patents Into NFTs With the Help of a “Patent Troll”

April 21, 2021

IBM does not want to give up when it comes to the application of Distributed Ledger Technologies for corporate purposes, and although its blockchain division did not live up to the expectations, this time, they are hoping to achieve success through the application of business use cases for NFTs.
According to a Press Release shared on April 20, IBM is teaming up with patent marketplace provider IPWe to tokenize patents in the form of NFTs and put them on a marketplace that facilitates their trading and transmission.
Patents Will Live on the Blockchain as NFTs
IBM’s vision is to achieve a means to enable fast and secure transfer of patent ownership without the need for the complex bureaucratic processes that currently exist.
Graphic representation of thebureocratic process

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