Update. BlockCrushr has dismissed the lawsuit against ConsenSys with prejudice after review of the evidence provided in discovery established that BlockCrushr’s claims were entirely without merit.
A blockchain-focused tech company ConsenSys has come under heavy criticism for allegedly stealing an idea for a recurring payments technology based on Ethereum's smart contracts from a Canadian tech company BlockCrushr, The Block has learned, citing a filed lawsuit.
BlockCrushr claims ConsenSys launched a platform called "Daisy Payments" a day after the company rolled out its own product.
The Canadian tech company states its team joined ConsenSys Tachyon Accelerator Program back in 2018, during which BlockCrushr described ConsenSys "every aspect of marketing, financial, technical, and regulatory strategy."
BlockCrushr says it also shared the code of its product with ConsenSys. ConsenSys reportedly promised to help the development of startup with funding and investments, even though BlockCrushr never received.
Finally, in 2019, ConsenSys "ceased communications" abruptly with BlockCrushr.
BlockCrushr wants the compensation, royalty damages and profits ConsenSys made after stealing BlockCrushr's source code.
ConsenSys says it is aware of certain claims filed by Blockcrushr d/b/a Groundhog.
"The facts tell a markedly different story than the falsities put forth by Groundhog and their counsel. We look forward to vigorously defending the reputation of our organization and products," ConsenSys's representative said.
In June, a joint venture W3BCLOUD between Advanced Micro Devices (AMD) and a blockchain-focused firm ConsenSys completed its initial close of $20.5 million in convertible notes from AMD, ConsenSys and several family offices in the United Arab Emirates.
Ethereum Co-Creator and ConsenSys Founder Joseph Lubin said that the joint venture will build "the next generation decentralized compute, storage and bandwidth for the planet."
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