Square Creates Alliance to Protect Crypto Patents
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Sept. 11, 2020

Square, the payment company owned by Twitter CEO Jack Dorsey, has just established an alliance to protect patents in the crypto sector, Dorsey has reported through his official Twitter account.

The aim of the alliance is to fight against patent trolling as well as to ensure open access to technology in the crypto sector.

The alliance, dubbed "Cryptocurrency Open Patent Alliance" (COPA), states that "open access to patents covering foundational cryptocurrency technologies is necessary for the community to grow, freely innovate, and build new and better products."

The members of the alliance will agree to include the blockchain and crypto patents they consider appropriate in a library, ensuring this way access to the technologies developed by the participating companies.

The creation of this alliance is a response to the strategy of some companies, which register patents of products or technologies they do not plan to develop just to hinder their competitors.

It is expected that more companies will join the COPA in order to access technological innovations, creating a more equitable patent environment.

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