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Square launches Crypto Patent Alliance to fight trolls

September 11, 2020

square, the US-based financial services company headed by Jack Dorsey, creates a consortium to combat patent troll (Persons or organizations who only own patents for the purpose of obtaining an economic benefit and do not necessarily create products or inventions with them) and Ensure open access to technology in the cryptocurrency sector.

The Cryptocurrency Open Patent Alliance, or CUP, tries to democratize access to innovative technologies in the cryptocurrency sector“Open access to patents covering basic cryptocurrency technologies is necessary for the community to grow, innovate freely, and develop new and better products.”

Members of the alliance agree to pool crypto and blockchain patents in the COPA libraryEnsure open access to technologies developed by participating companies. The alliance website says:

“The cryptocurrency technology and its introduction are still in the early stages. We believe that the success of cryptocurrencies depends on the community coming together to build and develop existing technologies for innovation. This cannot be done when the parties combine the basic technology in patents and litigation. “

Square launches Crypto Patent Alliance to fight trollsSquare launches Crypto Patent Alliance to fight trolls

The alliance is waiting “Changing the way patents are seen and used in the crypto world”highlight the possibility of using patents to promote innovation in this sector instead of hindering the development of the industry.

From April 17th Alibaba Group had the most blockchain patents at 2,344. 470 patents were filed in 2019 TencentTo accelerate the accumulation of patents, 718 patents were filed in the same year.

The controversial and self-proclaimed “Satoshi”, Craig Wight, is often accused of being a patent troll for your efforts and those of your company nchain Secure hundreds of blockchain patents.

Of the more than 5,800 blockchain patent applications filed last year, only 3% were granted.

Similar efforts have been made in the music industry to create a “collective shield” against “patent attackers”.with programmers and musicians Damien Riehl and Noah Rubin Developing software to generate nearly every possible melody earlier this year despite the controversial music disputes.

March, Katy Perry has overturned a verdict on a lawsuit brought by Christian rapper Flameand asked for $ 2.8 million for Perry’s use of an 8-bit musical timbre for the song “Dark Horse”. This flame claimed it was stolen from their song “Joyful Noise”.

1993 became the former singer of Creedence Clearwater Revival, John Nebel, He was sued by the owner of Fantasy Records for allegedly cheating on a song he wrote 23 years earlierthat the record label owned the rights to.

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