I saw you had patents pending, how long does that usually take?
I'm just curious if there's any chance that by the time they process the patent, they could see that it conflicts with a previous patent?
I almost covered and discussed "priority dates" in the video, but we decided to keep it simpler and shorter. That video has not been released yet, but since it doesn't cover that point; I'll answer here.
So, the way it works is that filing a "patent pending" gives you a "priority date" on the day it is filed. There are no prior patents that would override our patent, but there is a chance that another "patent pending", filed prior to ours, would conflict and have an earlier priority date. There is no way to know, until one is published, but we feel that it is unlikely. Most of the patents being filed are in regards to settling securities using a custodial account (depository for internal settlements) or are related to blockchain innovations.
I doubt that others were focused on the methods in our patents, because "atomic swaps" did not exist, meaning the value was limited (e.g. required 3rd-parties that charge a fee). However, I had the foresight to know that it would be possible one day (and bitcoin to ethereum atomic swapping is already possible now, much sooner than I anticipated). As a result, we will be able to use these virtually free methods and avoid using even Shapeshift (fee-based).
