Well-known US cryptocurrency exchange Coinbase has just announced it has joined the Crypto Open Patent Alliance (COPA), an initiative created by Square to facilitate access to cryptocurrency technology through the creation of a collaborative patent library, according to the announcement shared by the organization.
Square, the payments company owned by Twitter CEO Jack Dorsey, announced the creation of the consortium in September this year. To date, 18 companies have joined it, including the crypto exchange Kraken and other companies such as Satoshi Labs, Protocol Labs and Blockstream.
The aim of the initiative is to make crypto tech accessible and available to everyone. COPA members pledge never to use their crypto patents against anyone except for defensive purposes, making them freely available for use by everyone.
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.
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