EO and co-founder of Meta, Mark Zuckerberg, with a post on his official Facebook profile.
Meta in the Crypto Open Patent Alliance
Zuckerberg says thatthe metaverse should be more interoperable and openthan any previous computing platform, and that’s why Meta has decided to proudly join theCrypto Open Patent Alliance.
In fact, the goal is to make their crypto patents available to anyone who wants to use them, “so we can all build this future together”.
What is the Crypto Open Patent Alliance
TheCryptocurrency Open Patent Alliance(COPA) is anon-profit community, formed by both individuals and companies, that aims to encourage the adoption and advancement of cryptocurrency-related technologies, and in particular toremove the barrier to growth and innovation constituted by patents.
This is one step further to advancing COPA’s mission, which is to remove legal obstacles so cryptocurrency can become the backbone for transferring value anywhere in the world,” said Max Sills, IP Counsel at Block and General Manager of COPA, in a statement.
By joining COPA, Meta will have to follow COPA’s patent pledge of not to enforce its principal cryptocurrency patents against anyone, “except for defensive reasons, effectively making these patents freely available for all to use,” the statement said.
COPA has more than thirty members including Coinbase, Block, MicroStrategy, Kraken, Chaincode Labs and others.
The members of COPA need to pool in all their crypto-technology to create a shared patent library.
Meta, formerly known as Facebook, has joined Jack Dorsey’s crypto alliance to allow the use of its cryptocurrency patents.
Meta crypto open patent alliances
Представителем Meta в COPA будет Шейн О’Рейли (Shayne O’Reilly). Считается, что у компании имеется не один десяток патентов, имеющих прямое отношение к цифровым активам.
В COPA сейчас состоит 30 компаний, занимающихся разработками в этой области.
Чем больше компаний присоединится к альянсу, тем сильнее снизится риск судебных разбирательств, связанных с разработками на основе блокчейна, считают в СОРА. Организация стремится сделать отрасль более открытой и доступной для разработчиков.
Генеральный директор COPA Макс Силлс описывает «основные патенты на криптовалюту» как любую технологию, которая позволяет создавать, добывать, рассчитывать, хранить или передавать криптовалюту.
Решение Meta присоединиться к COPA последовало сразу после официального закрытия криптовалютного проекта Diem, созданного в свое время по инициативе Facebook.
Meta announced its membership to the Crypto Open Patent Alliance (COPA) to further prove its seriousness about crypto.
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COPA announced the membership on Monday, saying that the addition of Meta is the biggest cryptocurrency patent commitment to date. COPA was created in 2020 and encourages crypto innovation by lowering the chance of patent litigation by building open-source environments to protect core technologies for all users.
Meta will also be joining COPA’s board and will have to adhere to COPA’s patent pledge.
Meta (formerly known as Facebook) will be the latest company to join the Crypto Open Patent Alliance (COPA).
Meta — together with Jack Dorsey’s payments company Block at the helm and with over a couple dozens of tech and crypto companies — pledges to not enforce their “core cryptocurrency patents”.
According to COPA general manager Max Sills, he generally defines “core cryptocurrency patents” as technologies that “enables the creation, mining, storage, transmission, settlement, integrity, or security of cryptocurrencies.”
COPA’s main objective is to reduce the possibility of patent litigation in order to encourage more blockchain-related innovation.
Dorsey stated that the group also aims to “help the crypto community defend against patent aggressors and trolls.”
In 2021, COPA has sued the self-proclaimed Bitcoin inventor Craig Wright for his attempts to copyright the white paper for Bitcoin — which is an issue that the crypto community has been facing for years.
Sills remarked that Meta is the largest patent holder in COPA thus far. He said that “it signifies that crypto is becoming a core technology to businesses across industries.”
Facebook-backed digital currency project Diem was recently sold to bank holding company Silvergate Capital.
In fact, crypto technologies are believed to be based on collaborative efforts of the entire global developer community, and its success is believed to be the direct result of this community“coming together to build and develop upon existing technologies for the benefit of all”.
The point is that hundreds of patents have already been filed on crypto technologies, and new ones continue to be filed in large numbers. This can lead to stifling innovation and adoption of these technologies, threatening their growth.
COPA, on the other hand, provides anopen patent model, as anyone can join and benefit from it, regardless of whether they have patents or not.
Apple Cash – a checking account and digital debit card, which facilitates in-person and digital payments, P2P payments, disbursement of Apple Card cashback rewards, and banking for kids. ✅ Apple Pay Later (new) – a merchant-agnostic pay-in-4 BNPL service (comparable to Klarna), with no fees or interest, available for qualified customers using Apple Pay to make purchases online or in apps. ✅ Apple Pay Monthly Installments (new) – a point-of-sale lending service (comparable to Affirm), with interest rates determined by the merchant and the customer’s risk profile. Currently offered for Apple products only, as an alternative payment option for Apple Card customers.
COPA said anyone is able to join the alliance, including individuals and regardless of whether they have crypto patents or not.
Members of COPA are required to pool all their patents together in a shared patent library. COPA said that as a result, members can access each other’s patents “to deter and defend against patent aggressors, thereby empowering every member, regardless of whether they individually own patents or not, with tools and leverage to defend themselves against patent aggressors.”
The news comes shortly after Meta said it would be dimming the lights on its cryptocurrency project known as the Diem Association.
It has over 30 members, including Block, Coinbase, Kraken, MicroStrategy, and Uniswap.
Silvergate purchases blockchain payment network assets from Diem
In other news, there has been some progress with Meta’s decision to sell assets from its Diem initiative. The company announced that it wished to sell the stablecoin project and its assets in late Jan.
2022 and was looking for buyers. Regulatory hurdles were the primary reason behind the decision to sell Diem.
On Jan 31, Silvergate, a financial infrastructure solutions services in the digital assets market, revealed that it had acquired intellectual property and other assets related to Diem. It aims to use this technology to create a Silvergate-issue stablecoin for global payments.
Meta will now turn its attention to the metaverse, which it is working intensely on.