{"id":9323,"date":"2013-12-10T18:02:07","date_gmt":"2013-12-11T02:02:07","guid":{"rendered":"http:\/\/lifeboat.com\/blog\/?p=9323"},"modified":"2013-12-10T18:03:24","modified_gmt":"2013-12-11T02:03:24","slug":"jpmorgan-chase-building-bitcoin-killer","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2013\/12\/jpmorgan-chase-building-bitcoin-killer","title":{"rendered":"JPMorgan Chase Building Bitcoin-Killer"},"content":{"rendered":"<p><strong>By BRIAN COHEN<\/strong><\/p>\n<p><span style=\"line-height: 1.714285714; font-size: 1rem;\">Thanksgiving day, while many of us were eating turkey, The United States Patent and Trademark Office (USPTO) published JPMorgan Chase\u2019s (Chase) patent application <\/span><a style=\"line-height: 1.714285714; font-size: 1rem;\" href=\"http:\/\/appft.uspto.gov\/netacgi\/nph-Parser?Sect1=PTO2&amp;Sect2=HITOFF&amp;p=1&amp;u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&amp;r=1&amp;f=G&amp;l=50&amp;co1=AND&amp;d=PG01&amp;s1=20130317984&amp;OS=20130317984&amp;RS=20130317984\">20130317984<\/a><span style=\"line-height: 1.714285714; font-size: 1rem;\">, \u201cMethod and system for processing internet payments using the electronic funds transfer network.\u201d The application was filed with the USPTO on August 5th, 2013.<\/span><\/p>\n<p><span style=\"line-height: 1.714285714; font-size: 1rem;\">Without mentioning Bitcoin or cryptocurrencies at all for that matter, Chase appears to be building a competing centralized network to Bitcoin. The application defines the problems that legacy banking has with online transactions and then provides a detailed explanation how Chase will address these problems with this new technology. The application states that Chase\u2019s technology is a \u201cnew paradigm.\u201d Moreover that it permits the creation of \u201cvirtual cash\u201d (also referred to as \u201cweb cash\u201d) with a \u201creal-time digital exchange of value.\u201d<\/span><\/p>\n<p><a href=\"http:\/\/letstalkbitcoin.com\/jpmorgan-chase-building-bitcoin-killer\/#.Uqe8ZeLDuK4\" target=\"_blank\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By BRIAN COHEN Thanksgiving day, while many of us were eating turkey, The United States Patent and Trademark Office (USPTO) published JPMorgan Chase\u2019s (Chase) patent application 20130317984, \u201cMethod and system for processing internet payments using the electronic funds transfer network.\u201d The application was filed with the USPTO on August 5th, 2013. Without mentioning Bitcoin or [\u2026]<\/p>\n","protected":false},"author":76,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1318,43,39,45],"tags":[],"class_list":["post-9323","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-business","category-economics","category-finance"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/9323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=9323"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/9323\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=9323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=9323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=9323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}