This is excellent news. Banks will spend time and money on hiring consultants and lawyers to patent meaningless buzzwords. If for some bizarre reason the U.S. d

This is excellent news. Banks will spend time and money on hiring consultants and lawyers to patent meaningless buzzwords. If for some bizarre reason the U.S. doesn't reform patents by the time these patents are granted (a long process) they will be devoid of any value except protection. I actually think some within these banks hate the patent system as much as startups but are obligated to due this as a matter of professional security. It is just game theory 101, most institutions would be better off without dumping resources into lawyers, litigation and goodwill writedown, but if just one other institution does, they could potentially all be skewered. I am working at a tiny fintech company and we are trying to do business with "banks". Which I found out pretty much immeadiately, are in much worse shape than I believed. They all have these fiserv and digital insight systems, CRMs , front end providers, state regulation, federal regulation, lead generation, analytics software, 3rd party clearing software. A fucking mess. Radius Bank is one that looks particularly cool and similar to Simple or something, an online bank. The fact is that, to the extent banking stays within the current monetary system, small vertically integrated technology driven companies will be able to provide more, adapt faster and just dominate. Which is why I am not worried about the patent scenario. If a big bank wants to patent blockchain, and then hire consultants to hire a CTO to hire a team to build it they will discover 5 years from now that not only is it hard to do, but it is tough to sue a decentralized network.