{"id":109660,"date":"2020-11-11T04:55:24","date_gmt":"2020-11-11T01:55:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-patent-holder-wants-18m-a-month-from-us-bitcoin-atm-operators\/"},"modified":"2020-11-11T04:55:24","modified_gmt":"2020-11-11T01:55:24","slug":"new-patent-holder-wants-18m-a-month-from-us-bitcoin-atm-operators","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-patent-holder-wants-18m-a-month-from-us-bitcoin-atm-operators\/","title":{"rendered":"# New patent-holder wants $18M a month from US Bitcoin ATM operators"},"content":{"rendered":"

“# New patent-holder wants $18M a month from US Bitcoin ATM operators <\/strong>”
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Puerto Rico-based blockchain and robotics firm Bots Inc has announced it is exploring its options with \u201ca major law firm\u201d to launch litigation against firms operating Bitcoin ATMs across the United States.<\/p>\n

Two weeks ago the company acquired a patent for protocols underpinning the operation of Bitcoin ATMs which it believes makes it eligible for millions in monthly royalties.<\/p>\n

As the app<\/a>arent owner of intellectual property for technology<\/a> it claims is fundamental to the operation of Bitcoin ATM networks, Bots\u2019 chief executive Paul Rosenberg is eying \u201cper-transaction\u201d royalties from Bitcoin ATM manufacturers:<\/p>\n

\u201cPer-transaction royalty payments will be negotiated for a several-year term. Some agreements, especially with the manufacturers, could cover previous years and\/or a significant number of coming years.\u201d<\/p><\/blockquote>\n

With the more than 9,400 Bitcoin ATMs installed across the United States estimated to be processing between 130 and 180 transactions monthly, Bots believes its patent can drive $14 million to $18 million dollars in monthly royalties. It is not known if this figure is an ambit claim to open up negotiations or whether the technology is as crucial as the company claims.<\/p>\n

Bots acquired<\/a> the rights to the U.S. Patent No. 9,135,787 “Bitcoin Kiosk \/ ATM Device and System Integrating Enrollment Protocol and Method of Using the Same” on Oct. 29 through its subsidiary First Bitcoin Capital LLC. The patent was originally filed in 2014.<\/p>\n

Bots hopes to \u201creach an amicable arrangement without litigation\u201d with U.S.-based ATM operators, noting that it will be \u201coffering those operators to join a consortium of Bitcoin ATMs.\u201d<\/p>\n

Bots claims to be in the process of developing a \u201cWorldwide Bitcoin ATM network\u201d intended to allow interoperability between Bitcoin ATM terminals regardless of the company operating the machine. <\/p>\n

The crypto-community has historically condemned the use of patents to restrict access to technologies, with U.S.-based financial services company Square announcing in September it would form a consortium to fight patent-trolling within the blockchain and crypto sectors.<\/p>\n

Square\u2019s \u201cCrypto Open Patent Alliance\u201d will combine all members\u2019 blockchain patents into a shared library to \u201chelp the crypto community defend against patent aggressors and trolls.\u201d<\/p>\n<\/div>\n

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For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

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If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# New patent-holder wants $18M a month from US Bitcoin ATM operators ” Puerto Rico-based blockchain and robotics firm Bots Inc has announced it is exploring its options with \u201ca major law firm\u201d to launch litigation against firms operating Bitcoin ATMs across the United States. Two weeks ago the company acquired a patent for protocols…<\/p>\n","protected":false},"author":1,"featured_media":109661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/5cfe4554-3a71-45e8-8921-35429ab8fb3c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,79526,70719,117,74712,67874],"class_list":["post-109660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-patent","tag-atm","tag-business","tag-patents","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/109660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=109660"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/109660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/109661"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=109660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=109660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=109660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}