Reglikedomain industry desk

Gets patent for “Platform for building virtual entities using equity systems” — Chad Folkening

Gets patent for “Platform for building virtual entities using equity systems” — Chad Folkening

Patent covers aspects of Contrib system for domain names.

Chad Folkening was on the Reglike Podcast discussing Contrib last month. At a high level, it’s a system for developing domain names by engaging contributors.

The U.S. Patent and Trademark Office just granted patent number 9,787,760 to Folkening for “Platform for building virtual entities using equity systems”.

The patent describes many aspects of the system, counting the contribution of domain names to the system, valuation of domain names, issuing equity to contributors of both domain names and the development process (which Folkening plans to do via a cryptocurrency), and applying contributions across multiple domain names.

There are some interesting aspects of this ambitious idea. You can read the patent here (pdf).

Also on the wire

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