The consortium will pool patents and standardise entry to blockchain applied sciences to enhance innovation
The US-based agency that offers with cell funds and different monetary companies revealed the consortium would assist fight patent trolling. It would additionally guarantee open and democratised entry to applied sciences within the blockchain and crypto area.
This consortium can be known as the Cryptocurrency Open Patent Alliance (COPA). Based on Sq., “open entry to patents overlaying foundational cryptocurrency applied sciences is critical for the group to develop, freely innovate, and construct new and higher merchandise”.
Sq.’s chief govt, Jack Dorsey, who can be Twitter’s co-founder and CEO, introduced the launch through a tweet yesterday:
“Sq. is placing all of our crypto patents into a brand new non-profit org we’re calling the Crypto Open Patent Alliance, which can preserve a shared patent library to assist the crypto group defend towards patent aggressors and trolls. Be part of us! #bitcoin.”
Sq. additionally defined the ins and outs of COPA in a sequence of tweets as properly.
The taking part members will collectively determine to place collectively crypto and blockchain patents into the consortium’s library. It will present open entry to those applied sciences constructed by the contributing firms.
A piece of the alliance web site explains that, “Cryptocurrency know-how and its adoption continues to be at a nascent stage. We imagine that cryptocurrency’s success depends upon the group coming collectively to construct and develop upon present applied sciences to innovate, which isn’t attainable when events tie up foundational know-how in patents and litigation”.
The alliance goals to vary present views of patents and the way they’re employed within the crypto sector. COPA can even push the agenda of patents getting used to advance innovation reasonably than hamper it.
Jack Ma’s Alibaba Group filed for 470 patents final yr and reportedly holds probably the most (2,344) blockchain patents as of April. Chinese language multinational know-how conglomerate Tencent filed for 718 patents in 2019.
It’s attention-grabbing to notice that related efforts to construct a joint defend towards patent instigators have additionally been made within the leisure business. Damien Riehl and Noah Rubin constructed a software that may create nearly each melody.
The pair shared their work to the general public beneath Artistic Commons Zero license to guard musicians from being sued for copying songs they don’t bear in mind listening to.