I think it's safe to say that Coinbase is building up something that eventually will end up being interesting enough for investors to justify a stock exchange listing.
Bitcoin as economy is still peanuts, and for that reason it won't be much of an expense for large tech businesses or financial institutions.
Bitcoin, or better said, crypto in general, is experiencing a massive amount of growth, and there are no signs for this growth to stop in the coming years.
Buying up Coinbase entirely, or the majority of the existing shares, will give whatever entity access to a large part of the Bitcoin economy due to the size of Coinbase ~ that alone should be enough to get bought out.
Topic: [2018-08-17] Coinbase Awarded Patent for Bitcoin Security Concept (Read 4092 times)
August 17, 2017, 12:03:02 PM
Ah, the "world's most popular way to buy and sell..." Last week, you were recognised for being the first "Bitcoin Unicorn", today you gets a patent. I suppose if you keep filing patents, one is going to be accepted at some point. I can only imagine if Satoshi and others queued to file their own patents. For Coinbase and the Bitcoin Foundation, just another badge to add gloss to an already shiny corporate skin.
August 17, 2017, 09:38:46 AM
This is the first time I heard someone patented a security concept in bitcoin. I guess those investor will be rich because other exchanges can used their security to secure private keys, which is the utmost responsibility of a exchanges. However, I don't know why they left Coinbase and join other company. I guess its just the nature of the job of those engineers. To find something that will challenge them to create a better solutions for their customers. Goodluck to both of them.
August 17, 2017, 07:27:26 AM
Cryptocurrency exchange startup Coinbase has been awarded a new patent related to private key security, public records show.
The U.S. Patent and Trademark Office (USPTO) published the patent yesterday, entitled "Key ceremony of a security system forming part of a host computer for cryptographic transactions." Two former Coinbase engineers – James Hudon, who now works for Uber, and Andrew Alness, currently employed at Keybase – are listed as inventors.
At its heart, the patent concept relates to a method for storing and utilizing bitcoin private keys. Coinbase has filed other patents in the past related to private key security.
Article on Coindesk
The U.S. Patent and Trademark Office (USPTO) published the patent yesterday, entitled "Key ceremony of a security system forming part of a host computer for cryptographic transactions." Two former Coinbase engineers – James Hudon, who now works for Uber, and Andrew Alness, currently employed at Keybase – are listed as inventors.
At its heart, the patent concept relates to a method for storing and utilizing bitcoin private keys. Coinbase has filed other patents in the past related to private key security.
Article on Coindesk
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