Upstart blockchain firm Bots Inc claims it can demand between $14 million and $18 million in monthly revenues after acquiring a patent to Bitcoin ATM technology last month.
Puerto Rico-based blockchain and robotics firm Bots Inc has announced it is exploring its options with “a major law firm” to launch litigation against firms operating Bitcoin ATMs across the United States.
Two weeks ago, the company acquired a patent for protocols underpinning the operation of Bitcoin ATMs which it believes makes it eligible for millions in monthly royalties.
As the owner of intellectual property for technology it claims is fundamental to the operation of Bitcoin ATM networks, Bots’ chief executive Paul Rosenberg is eying “per-transaction” royalties from Bitcoin ATM manufacturers:
“Per-transaction royalty payments will be negotiated for a several-year term.