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

[Bullion Baron]

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

All of this stuff was being discussed at depth well before the patent being lodged in May 2014. Suggest you do some research.

https://allquantor.at/blockchainbib/pdf/rosenfeld2012overview.pdf

Even the early description of Ethereum, which built on colored coins, was released prior to the US patent.

https://web.archive.org/web/20140111180823/http://ethereum.org/ethereum.html

 

[Bullion Baron]

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.

Also FWIW, neither patent office disagrees with me just because they granted RM a patent for a specific invention.

DeFi is a loose term used to describe a range of different protocols / networks / DApps and other related technology. That is why you can't patent it. It is many inventions, not one.

A patent specifically covers a unique, novel, invention that is described in detail. Many companies work around patents by slightly changing the way their product is made / operates. So unless RM's patents cover (in detail) every way that DeFi technology could work (and was published in advance of anyone inventing the same), it isn't really relevant or much of a risk to the broader basket of technologies.

 

[SULLA]

Time will tell.

He has the patents and slowly enforcing his rights, and seeking compensation from those who are renting a room in his house without paying rent!

Regardless of who did this or who did that, it’s the entity with correct paperwork that ends up winning.

Let’s see how the lawsuits pan out and there will be the lawful and legal answer.

the normal patent application timeframe in the USA is just my over 2 years. Due to the complexity of this area Reggie Middleton’s patent took 7 years f litigation - back and forth!
I suggest you read the patent application.

In the end it is always first past post the post who wins.

if you have an invention and you don’t copyright, trademark, or patent, why would you cry when someone with a similar invention does.

the links you shared are really quite general in concept where Reggie’s inventions are very specific and to the point, which meant the two patent offices granted patents for his inventions.

have you actually read what is at those links?

I suspect no!

Read them to see where your basic premise is incorrect.


Don’t agree that the the patents were issued? Don’t argue with Reggie or me! Argue with the patent offices.
Apparently Alexander Graham Bell had the same situation with his patents.

History repeats.

You are really barking up the wrong tree.

Contrary to your opinion you can patent DeFi, as proven by the patents awarded to Reggie Middleton.

Suck it ip and enjoy.

great chat!
Thank you.

I will keep you posted re further developments.

Got VERI?

I recommend you get some while the price is low.
The problem us that the majority of peeps have no idea what VERI is designed to do.

DYOR and understand the reason VERI exists!



I will keep you informed

 

[mmm....shiney!]

You wonder how he ever got approval for the patent in the first place? It doesn't take much knowledge of crypto history to realise he didn't invent defi or decentralised P2P transaction systems. But I don't know much about patents.

 

[Bullion Baron]

Regardless of who did this or who did that, it’s the entity with correct paperwork that ends up winning.

Patents can be revoked.

if you have an invention and you don’t copyright, trademark, or patent, why would you cry when someone with a similar invention does.

Who is crying? You can't invent something that is already invented, that's all I'm saying. You can't just pick something that's already invented without a patent and then patent it.

have you actually read what is at those links?

Yes, many years ago which is how I knew about them.

Contrary to your opinion you can patent DeFi, as proven by the patents awarded to Reggie Middleton.

His patent isn't over the entirety of DeFi, it's over a specific implementation of it. Even if he were to win one of his spurious lawsuits it doesn't mean that he owns a patent that covers all technology that could be considered DeFi.

------------

Interesting article here by the way: https://www.law.com/newyorklawjourn...-damages-in-unrelated-case-involving-patents/

Decision of the Day: Blockchain Company With Infringement Suit Against Coinbase Ordered to Pay Punitive Damages in Unrelated Case Involving Patents

In a derivative action, the court found that defendant Reggie Middleton, founder of blockchain company Veritaseum, wrongfully caused patents belonging to defendant company to be transferred to and owned by himself personally in breach of his fiduciary duty of loyalty to the company.

Middleton had represented to the company’s investors that the company had pending patent applications and the investors were led to believe that they would be investing in a company that would own those patents.

The court rejected Middleton’s testimony that these numerous representations were all simply mistakes or that the company was only supposed to have a royalty-free license.

The court cited the Q4 report from 2015, which leaves no doubt that Middleton was not making a mistake as he comprehensively addressed the value of the patents to the company.

Therefore, the court rejected Middleton’s contention that he had the right to personally own the patents.

The court held that, since he breached his fiduciary duty of loyalty to the company, Middleton may be held liable for punitive damages regardless of whether his conduct was aimed at the public generally, adding that a $1 million punitive damages award against him is justified.

The case is captioned Hall v. Middleton, 655003/2019

So good ol' Reggie tried to scam investors in the Veritaseum company out of ownership of the patents that we're talking about here

Seems like a real top bloke. Where do I send all the money I want to lose?

 

[SULLA]

Wtf is wrong with you mate?

did you read the SEC case? Was there a plea? Guilty / Not Guilty? It was a settlement! xrp with billions can afford to challenge the SEC. court. Smaller players settle because where the SEC has unlimited funds to play their game some they challenge, do not.

Have a look at Nexo v SEC. Settled within 24 hours of charges being brought! $42m!!

if you DYOR you would know that VERI is not a security but a means to accessing IP software.
And why would have read the RM patents years ago? That statement is just ridiculous.
Take 2 x Bex and have a good lie down!

have a nice night and day.

 

[Bullion Baron]

The commentary from the Judge on this case before the courts regarding Reggie's attempts to steal the patents off Veritaseum are amusing to say the least.

Reggie Middleton wrongfully caused patents belonging to Veritaseum, Inc. (the Company) to be transferred to and owned by himself personally in breach of his fiduciary duty of loyalty to the Company.

His evasive and incredible answers to questions on cross-examination and his conduct resulting in the SEC consent order (Dkt. 29 at 866) convince the court that Middleton is willing to misrepresent the facts and render his testimony unworthy of belief.

Going forward, the Company may well have claims against defendants if they use the patents without authorization.

Middleton claimed that there is no need for trust in cryptocurrency transactions because they are "unbreakable promises" (see Dkt. 28 at 7-8). While that may be true on the blockchain, there is a tremendous need for trust and fidelity among fiduciaries.

Anything other than a sizeable penalty would be insufficient given that recovery belongs to the Company in which Middleton himself owns a very large stake. Under these circumstances, a $1 million punitive-damages award against him is justified. Hopefully, it will deter violations of bedrock corporate law.

https://www.nycomdiv.com/wp-content..._Middleton_et_al_DECISION_AFTER_TRIAL_149.pdf

Wouldn't it be ironic if Reggie was sued by the company he lodged the patents through for using them without the company's permission?

 

[SULLA]

As we all now the US justice system is corrupt to say the least.

Let’s wait and see what the appeal brings out.

I am amazed that you have so much anger re Reggie Middleton.

Tell us more, about this anger, please.

here is a statement from RM made on 12/01/23 re that case:

“Veritaseum Inc never owned the patents. The invention was created before the existence of the company, and there was never an assignment to the company, nor was there ever an agreement to transfer the invention to the company, despite the fact that I own the company anyway..

It should be obvious that we vigorously disagree with the judges decision(s) - hence the multiple appeals which we are very optimistic will side with us -, and the ownership provenance of the invention and the IP is publicly available from the USPTO. It appears to me that there is an observation essentially saying that the USPTO records don't matter, and the judge's opinion should supersede the factual record at the patent office, regarding a patent.”

As for patents being revoked. It is my understanding that anyone can challenge an US patent if they have proof of “prior art”.

So please tell us all here, how many challenges there have been since the first patents were granted over a year ago.

And please tell us why you have so much anger re RM and his patents and appear to take this so personally.

Just curious.

 

[Bullion Baron]

When SULLA thinks the US legal system is working in favour of Reggie:

Let’s see how the lawsuits pan out and there will be the lawful and legal answer.

After SULLA finds out the US legal system has turned against Reggie:

As we all now the US justice system is corrupt to say the least.

There is no anger here SULLA, just pure amusement and trying to keep people from investing money into grifters.

If the USPTO never gets anything wrong after 7 years of review, then how is this possible??

 

[SULLA]

it’s possible because the screenshot you present above is not from USPTO.

You did not search at USPTO!

You are searching using a secondary source.

Go to the primary source for your info.
Do your search at USPTO not at Patents.Google.

As RM stated above:
“…the ownership provenance of the invention and the IP is publicly available from the USPTO.”

 

[Bullion Baron]

Go to the primary source for your info.
Do your search at USPTO not at Patents.Google.

As far as I can tell the USPTO only has a document published from 2021, not the original application.

Anyway, the Courts have spoken here and it's really not a good look for Reggie trying to claw the patents back to himself personally after registering them using the company and bringing in investors on that basis. This is not the sort of scheme I would invest in, but good luck to those who are.

 

[SULLA]

so USPTO does not have the original application?

Really?

please provide your evidence to support your claim!

that is a ridiculous comment!


Read the Primary document I.e. USPTO.

Veritaseum Inc was never the applicant.
There was no assignment from the co to RM.

the court looked only at Patents.Google and ignored the USPTO.

Open your your eyes and you shall see!

You say this is amusing and you who knows it all, actually knows nothing.

you don’t even know what VERI is designed to do, do you!?

read the primary document source USPTO and not the secondary source - Patents.Google.

you stated earlier that you read the patent applications years ago.

if that is true, please tell us who the applicant was, you will need to provide supporting evidence.

appeals have been initiated.

The US courts system is corrupt!

No more straws to grasp at!?

Checkmate! And Checkmate and Checkmate!

 

[Bullion Baron]

so USPTO does not have the original application?

I meant they have only publicly published the latest application, not that they don't have it (which they undoubtedly do).

If the original application is available publicly on the USPTO database / site, please provide a link or screenshot.

you stated earlier that you read the patent applications years ago.

I read the colored coin and Ethereum whitepaper documents years ago (which is what I was referring to), not the patents. Clearly a miscommunication as your rants are difficult to decipher.

the links you shared are really quite general in concept where Reggie’s inventions are very specific and to the point, which meant the two patent offices granted patents for his inventions.

have you actually read what is at those links?

 

[SULLA]

 

[SULLA]

And who is the applicant?

Reggie Middleton because the company was never an applicant.

 

[SULLA]

Assignments.

Total Number of Assignments?
1

Assignment from Veritaseum Inc to RM?

No!

Assignment from co-inventor Matthew Bogosian to Reginald Middleton.

 

[SULLA]

Hey Bb!
Your silence is deafening!
is this strike 4?

everything you claimed has been rebuffed with evidence.

Is your fear that you yourself may be renting a room in Reggie Middleton’s house, but you are not paying rent with your NFT experiment?

Is that the reason for your anger toward Reginald Middleton?
Methinks that is so!

have a nice day!

 

[Bullion Baron]

None of these documents are from the 2014/2015 era when the original application was lodged, they are more recent and not the original application.

That aside, even if it was lodged only in his name and not the company, it is pretty clear the Courts believe he has misled investors to think that the company they invested in owned the patents.

I don't have anything more to add. People can make up their own mind on what the evidence in this thread shows of Reggie Middleton's character and how he engages in business dealings.

 

[SULLA]

We shall see what happens when the appeals are heard.

I will keep you posted.

The whole industry is trying to avoid RM yet they jump up and down with Joy at the LBRY scenario.

Go figure!