nChain patented smart-contracts for use in Bitcoin Cash

Research the company nChain based posing as Satoshi Nakamoto engineer Craig Wright engaged in developing technologies based on the blockchain, received a patent for a method of registration and automatic control of smart contacts, said its CEO Jimmy Nguyen (Jimmy Nguyen).

«This is the first patent granted by the European patent office, marks an important stage in the implementation of ambitious research and patent program nChain initiated about two years ago. This patent is one of many subsequent. We will develop and patent a lot of projects on the basis of the blockchain,» said he.

The invention is a technology that allows you to store metadata, to implement digital tokens and smart contract management.

Users will be able to work with any content, with the performance phase, and test it through the blockchain – does the resource have a valid license to the content. The creators and content owners can more effectively manage digital rights – smart contracts will allow to do it automatically renewing contracts, common in digital subscription services that use smart-contracts on the basis of the blockchain.

The authors of the project announced about the intention to provide access to its intellectual property solely to the community Bitcache:

«Nchain seeks to use our intellectual property to benefit the community Bidasha,» notes Wright. «We intend to make a key IP asset are available for free use only blockchain Bitcoin Cash by the new system of «open licenses nChain Bitcoin Cash».

According to him, it will give Bitcoin Cash significant advantages compared to other blockchains and will attract commercial enterprises to work within the blockchain BCH that was considered in the original concept of Bitcoin.

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