A company behind the Australian entrepreneur Craig Wright has been sold to a private equity fund. Wright is famous for a failed claim he was the inventor of bitcoin.
nChain earlier known as EITC Holdings was bought by the Maltese company High Tech Private Equity Fund SICAV plc managed by Liechtenstein-based Accuro Fund Solutions, part of Zurich-based Accuro Group.
The affiliation of EITC with Craig Wright was unveiled due to a journalist investigation by Reuters. Last year, the company filed dozens of patents related to blockchain and cryptocurrency technologies. Thus, according to UK Intellectual Property Office, EITC applied for patents on technologies, such as “blockchain implemented counting system and method for use in secure voting and distribution,” “personal device security using cryptocurrency wallets,” “universal tokenisation system for blockchain based cryptocurrencies” and others.
According to nChain’s news release, the company “intends to make some of its intellectual property assets available to the blockchain community through open-source software and royalty-free licensing.”
nChain has already received $300 million of investments, reports Reuters. However, the source did not specify the period of the investment.
nChain does not confirm if Wright has been or would be a stakeholder after the deal. The company states it acquired Wright’s assets and intellectual property, him holding the post of chief scientist.
Craig Wright, who in December 2015 was the first individual considered the person behind the alias Satoshi Nakamoto, gained notoriety in May 2016 when he failed to prove this claim. The incident undermined the businessman’s reputation among the crypto community. Later, he effectively disappeared from the public eye. Some people argue that, although blockchain-related patent applications are filed all the time (including attempts to patent the term “bitcoin”), the idea of patenting is not consistent with the free spirit of the cryptocurrency.