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- A filed case professes that both De Beers and BCG perpetrated patent infringement, breach of contracts, embezzlement, and more.
- Max Rady worked on a program that could create an identity signature and the data would be etched on a blockchain.
- Rady claims that there is a usage of his shared information in the TRACR platform. Moreover, he supposedly has emails backing his claims.
Max Rady recently sued Boston Consulting Group (BSG) and Diamond company De Beers. A filed case professes that both De Beers and BCG perpetrated patent infringement, breach of contracts, embezzlement, and more. The relation of litigation is to a blockchain patent.
Max Rady’s blockchain innovation
Rady started his Masters/PhD in August of 2010 at the King’s College, London. He worked on a program that could create an identity signature and the data would be etched on a blockchain. A key tool in his research was linking physical objects to find its digital counterpart. He subsequently filed a patent for his innovation, blockchain traceability, and connection tool. While still doing his research, Rady started working with BCG in 2016. He never officially worked on the TRACR project. BCG was apparently aware of his research and his ongoing patent work.
De Beers’s TRACR project
BCG digital ventures have been working under the De Beers company to build the TRACR program. The TRACR software platform employs the same blockchain technology, used in Bitcoin too. Its creation ensures traceability in the production and mining of diamonds by the De Beers company based in South Africa. Further, the platform aims at transparency and trust among the business community and ensuring natural and conflict-free registered diamonds for the customers.
The alleged patent infringement
Rady claims that a group of creators working on the TRACR project consulted him, asking about his PhD and research work. Thus, he shared information about his unpublished patent in confidence that his research knowledge will remain safe from sharing or misuse. When he was approached to license his patent to another company, his boss and BSG legal counsel pointed out that it could be a conflict of interest with the company’s South African venture (De Beers). He claims that his shared information was used in the TRACR platform. Moreover, he is supposed to have emails backing his claims.
Currently, more information is awaited about the Rady vs. Boston Consulting Group and De Beers UK Limited case.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
