Reggie Middleton and his patents on “P2P” -defi.

S

SULLA

Active Member
Silver Stacker
This has just broken over the past few days.

"THE BIGGEST NEWS IN THE (CRYPTO/FINANCE) INDUSTRY".

Please have a look at his video and consider the future of P2P capital etc.
The first 5 minutes explains a lot!

How will this impact current defi cryptos (and others)?


RM is the creator of VERITASEUM.
 
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Source link

https://www.sec.gov/news/press-release/2019-150

Washington D.C., Aug. 13, 2019 —

The Securities and Exchange Commission announced fraud charges against a Brooklyn individual and two entities under his control who allegedly engaged in a fraudulent scheme to sell digital securities to investors and to manipulate the market for those securities. On Aug. 12, 2019, the court entered an emergency freeze to preserve at least $8 million of the $14.8 million the defendants raised in 2017 and 2018 in an offering of digital securities.

The SEC filed charges against Reginald “Reggie” Middleton, a self-described “financial guru,” and two entities he controls, Veritaseum, Inc. and Veritaseum, LLC (collectively Veritaseum). The Commission’s complaint, filed in federal court in Brooklyn, New York, alleges that the Defendants marketed and sold securities called “VERI” tokens on the internet, inducing retail investors to invest based on multiple material misrepresentations and omissions. Among other things, Defendants allegedly knowingly misled investors about their prior business venture and the use of offering proceeds, touted oversized – but fictitious – investor demand for VERI, and claimed to have a product ready to generate revenue when no such product existed. The complaint further alleges that Middleton manipulated the price of the VERI tokens trading on an unregistered digital asset platform. The complaint also alleges that Middleton recently moved a significant amount of investor assets and then dissipated a portion of those assets, transferring them to Middleton’s personal account.
 
The SEC action against RM is old news.

What is new is the news re his approved patent applications in The US (and Japan with patents still pending in a number of major areas).

we shall now see how the SEC further pursues RM and the Claim(s) against him.

How will RM’s Patents affect those companies involved with DeFi, FX, P2P etc.?

Who are the Biggest Users & Patent Protection Filers of DeFi tech?

have a listen here.
https://twitter.com/i/spaces/1mnxedZdwbnJX
 
GC

RM’s patent applications have been granted.

It all began back in 2014.
It is potentially a real game changer in the “Financial” / trade sector.

will it win?
 
Interesting recent video with Reggie Middleton and The Gentlemen of Crypto discussing recent and current crypto exchange issues.


also at 35:26 Reggie predicts:

“There’s going to be a lot of disruption coming to the markets over the next quarter or two.
A lot!
Things are going to be looking very different and it’s going to try to be subdued, because the primary media sources - industry related media sources - don’t want the news to get out. So, it will be interesting to see how things happen when the truth unfolds. OK.
Read primary sources, payattention and look for conflicts of interest.
I can’t say anymore right now, but I will say more, in detail, when the time comes.”

Reggie have is referring to his patents which cover over 75% of all cryptos out there; in particular P2P and DeFi transactions.

if anyone would like more info about Veritaseum, message me for a link to the official Telegram channel where Reggie regularly posts.

I strongly recommend that everyone interested in cryptos make themselves aware of Veritaseum and the impact it is going to have on the crypto space AND I strongly recommend you have some VERI in your portfolio. Not a difficult choice if you understand what it’s all about! DYOR!
 
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For those who are unaware Veritaseum Inc is suing Coinbase which you know, and more recently he is suing Circle for patent infringement.

RM is making a big announcement over the next day or two.

I am amazed that almost no-one is aware of RM’s patents and the affect they will have on the entire Crypto space!

if you possess cryptos you really should DYOR to ensure your investment is not infringing on RM’s patents

got VERI?
 
He seems like a patent troll.

I wouldn't touch any project throwing money at frivolous lawsuits like this.

Patents typically only protect a very specific invention. You can't patent "DeFi" as if it's just one thing, because it's not. It would be like trying to patent "the internet".

Hope you don't pour too much money on this dumpster fire SULLA, his patents are likely to amount to nothing and have very little impact on the crypto space.
 
Bullion Baron said:
He seems like a patent troll.

I wouldn't touch any project throwing money at frivolous lawsuits like this.

Patents typically only protect a very specific invention. You can't patent "DeFi" as if it's just one thing, because it's not. It would be like trying to patent "the internet".

Hope you don't pour too much money on this dumpster fire SULLA, his patents are likely to amount to nothing and have very little impact on the crypto space.
Click to expand...

Thanks BB.

time will tell if you are correct or RM is correct.

as for you cannot patent “DeFi”, the US Patent Office and Japanese Patent Office do not agree with you. The US patent was applied for in 2014 and granted in late 2021. The Japanese patent follows a similar timeline. So it took 7 years of litigation for the respective patent offices to approve. I would think they would be extremely meticulous before granting any patent.

RM’s patents in US and Japan also cover trustless P2P transactions, NFTs, stablecoins, CBDCs and cold storage.

Patent Offices do not grant patents frivolously!

As for being a “frivolous lawsuit” again time will tell, but I do not agree that the lawsuits are frivolous and I suspect the Judges in each case do not agree with you either.

What is most interesting is that Coinbase cited one of RM patents in 2021, in a patent application they made!

Two cases are now active Coinbase and Circle.
More coming soon.
And a second Japanese Patent Has just been confirmed.

As for using the term “patent troll” for RM, I strongly recommend that you DYOR.
Not only on his patents and what they are specifically designed to do, but also DYOR on RM the man and his track record in the US financial arena.

Can you name anyone who was working on using the blockchain for DeFi, and Trustless P2P transactions, etc in 2014?

I can.

EDIT:

that video in Leo25’s post is a good starting point.

This video was released less than an hour ago.

 
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leo25 said:
This guy still around...

Click to expand...
Yes! Reggie Middleton is still about. Bigger, better and smarter than ever before.

His three patents (US and Japan) cover at least 75% of of the crypto space.

Sic ‘em Rex!

Got VERI?
 
Obviously Satoshi Nakmoto but he mightn't count.

Hal Finney? Charles Hoskinson? Nick Szabo?

Not sure whether David Chaum would count, his patents seem to be largely centralised. Maybe his early work was more decentralised, I don't know.
 
Well apparently the BTC whitepaper was published in 2008, though there is no date on it that I could see: https://bitcoin.org/bitcoin.pdf

Satoshi said:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.
Click to expand...

Satoshi puts forward 8 "technologies" that existed prior to BTC that he used in designing a P2P system that sought to avoid double spending. Previously, either the systems were centralised eg trad-fi or presumably couldn't guarantee nefarious actors misusing systems that were not centralised. Timestamps, POW, a network of nodes, incentives, Merkle Trees, a simplified payment verification method, combining and splitting values and privacy.

According to reports Satoshi sent emails to others on some cryptography mailing list, Finney was one to reply, also a bloke called James Donald.

Screen Shot 2023-01-26 at 9.34.48 am.png


https://www.wsj.com/public/resources/documents/finneynakamotoemails.pdf
https://satoshi.nakamotoinstitute.org/emails/cryptography/2/

e8cfb5ab-41e0-4015-851f-cbeb66aa3d22.JPG

I've read that the Litecoin whitepaper was released on github in 2011, though others say there was no whitepaper. Lee announced Litecoin back in 2011: https://bitcointalk.org/index.php?topic=47417.0

He points out in his Tweets that at the time of LTC's release there were about a dozen other "alts" operating at the time.

There's probably stacks of other examples if anyone wanted to spend time writing a thesis, the hard bit would be validating everything as it was mostly all done on the fringe.
 
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