A startup tied to Australian academic and businessman Craig Wright, who last year claimed to be the inventor of bitcoin, has been sold.
The sale of nChain – formerly known as EITC Holdings – was announced yesterday. The buyer is a Malta-based investment fund, High Tech Private Equity Fund SICAV plc, which is managed by Zürich-based Accuro Fund Solutions. A group of companies affiliated with nChain was also acquired as part of the deal.
But, according to the firm's announcement, nChain may be planning a more open approach to the patents it is seeking.
In its release, nChain said that it "intends to make some of its intellectual property assets available to the blockchain community through open source software and royalty-free licensing" sometime this year. However, the firm gave no indication when that process might actually begin.
Image Credit: BBC
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.