Economist and financial analyst Reggie Middleton says BSV may be significantly undervalued.

In a YouTube video titled ‘ETFS, patents, Coinbase, and why the foolishness of ignoring ownership will turn cryptocurrency upside down’ Economist and financial analyst Reggie Middleton covered nChain’s large IP portfolio and speculated on how it could impact the digital currency industry. All things considered, Middleton concluded that the BSV blockchain may be significantly underestimated.

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2024 will be the year that IP brings about great change.

Middleton begins by explaining the topic of the video: due diligence, specifically as it relates to patents and IP. He believes that 2024 will be the year when these factors bring about major changes to the blockchain and digital currency industry. This is the only industry where billions, even tens of billions, of dollars are allocated without due diligence related to patents and IP.

Of course, you can’t look at patents in this industry without coming across Dr. Craig Wright and nChain. They have a lot of capital, hundreds of engineers, and are highly productive, Middleton says. nChain already has 1,000 patents and has an additional 3,900 patents in the pipeline. All of them are focused on blockchain technology and DLT.

Middleton said nChain will allow BSV blockchain builders and developers to access all of this IP. Given this, BSV may be significantly undervalued. A few years ago, the token was removed from major exchanges due to an industry conflict with Dr. Craig Wright, particularly regarding copyright registration and subsequent enforcement of the Bitcoin white paper.

Multipart Computing and Coinbase

Zooming in on one specific patent, Middleton points out that nChain has patents related to multi-part computing. This involves taking the private key, splitting it, and combining it again using a secret.

Why is this important? This is what Coinbase (NASDAQ: COIN) uses to secure its cold storage, he says. Given that it is the custodian for eight of the 11 BTC ETFs, Middleton said he wonders if anyone is asking whether the company owns the technology it uses to secure the coins.

If nChain’s patent were applied to Coinbase’s technology, there would be serious consequences. If so, Coinbase may be significantly overvalued, or at least the risk/reward may look different.

Anyway, all these IPs make the BSV blockchain a de facto choice.
Bitcoin in the long run. We can’t ignore it or pretend it doesn’t exist, as many in the industry have done for a long time.

nChain is the most dominant force in enterprise blockchain.

Regardless of what you think about Dr. Craig Wright, the other players involved in BSV, or the chain itself, it is undeniable that nChain is far ahead of most others.
Enterprise blockchain IP.

Take a look at Reggie Middleton’s recent tweets: 75% of all citations to their patents came from nChain. This company is really accomplishing a lot. In most cases, we are decades ahead of others in the industry. As a ragtag group of developers tries to figure out how to scale Ethereum and other compromised blockchains, nChain is studying Bitcoin authentication addresses and helping scale Bitcoin to millions of transactions per second.

74% of our patent citations come from: @nChainGlobal – A testament to the prolific nature of nChain IP program.
It makes me think like this #BSV nChain has stated that BSV users will be licensed through their use of BSV, so it could be worth a lot more than many people realize. etc… pic.twitter.com/eF5RGBAEYe

— Reggie Middleton US11196566, US11895246, JP6813477 (@ReggieMiddleton) March 6, 2024

Here’s the problem. Whether anarchists or idealists like it or not, property rights exist in the blockchain industry. Ignoring this will have serious consequences and will become even more critical to how the industry develops and evolves in 2024 and beyond. In no other field is this laissez-faire attitude towards IP seen, and many are in for a rude awakening.

Once Dr. Wright proves his identity as Satoshi Nakamoto and begins enforcing his IP rights to the Bitcoin database, and nChain begins to flex its muscles and wield a large IP portfolio, things could quickly change for the better. Undoubtedly, the BSV blockchain ecosystem will gain steam once the dust settles. Middleton is correct in surmising that the entire BSV blockchain ecosystem is probably significantly undervalued.

Example: Web3 will change our lives. nChain CIO Christine Leong explains how.

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