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Square launches cryptocurrency patent alliance to fight the trolls

Square launches cryptocurrency patent alliance to fight the trolls

Sq., the U.S.-based monetary providers firm headed by Twitter’s Jack Dorsey, is establishing a consortium to struggle patent trolling and guarantee open entry to know-how within the crypto sector.

The ‘Cryptocurrency Open Patent Alliance’ (COPA) seeks to democratize entry to progressive applied sciences within the crypto sector, asserting that “open entry to patents masking foundational cryptocurrency applied sciences is critical for the group to develop, freely innovate, and construct new and higher merchandise.”

Members of the alliance will comply with pool crypto and blockchain patents into COPA’s library, making certain open entry to applied sciences developed by collaborating companies. The alliance web site says:

“Cryptocurrency know-how and its adoption remains to be at a nascent stage. We consider that cryptocurrency’s success will depend on the group coming collectively to construct and develop upon current applied sciences to innovate, which isn’t doable when events tie up foundational know-how in patents and litigation.”

The alliance hopes to “remodel the best way patents are considered and used within the crypto world,” emphasizing the chance for patents to be employed to advance innovation within the sector, somewhat than to hinder the trade’s growth.

As of April 17 2020, Alibaba Group held probably the most blockchain patents with 2,344. It filed for 470 patents in 2019. Tencent is trying to speed up its patent hoarding with 718 filings final 12 months.

Controversial self-proclaimed ‘Satoshi’ Craig Wight, is ceaselessly accused of being a patent troll for his efforts, and his firm nChain’s efforts, to safe a whole lot of blockchain patents.

Whereas greater than 5,800 purposes for patent blockchain patents had been filed final 12 months, solely 3% had been granted throughout 2019.

Comparable efforts to create a “collective defend” in opposition to “patent aggressors” have been undertaken within the music trade, with programmers and musicians Damien Riehl and Noah Rubin creating software program to generate almost each doable melody in defiance of the controversial music litigation trade earlier this 12 months.

In March, Katy Perry efficiently had a ruling reversed regarding a lawsuit filed by Christian rapper, Flame, that sought $2.Eight million for Perry’s use of 8-bit musical timbre within the music Darkish Horse which Flame claimed had been stolen from his music Joyful Noise.

In 1993, former Creedence Clearwater Revival singer John Fogerty was sued by the proprietor of Fantasy Data for allegedly ripping off a music that he had written 23 12 months prior, that the document label had come to personal the rights to.


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