Bots Inc., a blockchain and robotics firm, has recently announced its plans to launch litigation against the firms that are operating Bitcoin ATMs across the U.S. The firm will be launching this litigation along with one major law firm. According to the firm, they will be able to demand monthly revenues up to $14 to 18 million. It will be made possible after attaining the patent for Bitcoin ATM technology. Bots Inc., has also obtained a patent for protocols that are conducting the operation of Bitcoin ATMs, two weeks ago. Due to this, the firm believes that it will be able to gain millions of monthly royalties. Bots Inc. Looking for Royalty from Bitcoin ATMs Operators Paul Rosenberg, CEO at Bots Inc., has said that the firm is looking for a per-transaction royalty from the ATM operators. He stated: “Per-transaction royalty payments will be negotiated for a several-year term. Some agreements, especially with the manufacturers, could cover previous years and/or a significant number of coming years.” There are around 9,400 Bitcoin ATMs across the U.S. and according to reports, all of the processes around 130 to 180 transactions, each month. This justifies the millions of royalty that Bots Inc is eyeing from the patent. Plans to Develop Worldwide Bitcoin ATM Network Bots Inc. has also revealed that it is planning to develop worldwide Bitcoin ATMs. Even though the firm is filing the patent, it has been seen that the crypto-community has always been quite against the use of patents. The reason is to restrict the access of technologies and for this, Square has also announced to form a consortium to fight patent-trolling. This alliance will include the members of the blockchain and crypto community. This will also help the community to defend the industry against patent aggressors and trolls.
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