The Cryptocurrency Open Patent Alliance (COPA) has welcomed Meta as a member, and the social media giants have promised to make their core cryptocurrency patents available to everyone.
Meta, formerly Facebook, has joined COPA, a group that advocates for public patents on cryptocurrencies and blockchain-related technologies. On Monday, the organization released a statement announcing Meta and noting that Shane O’Reilly would be its spokesperson.
By joining COPA, Meta will be one of 30 other businesses that will not enforce their “core cryptocurrency patents.” COPA General Manager Max Sills describes “Cryptocurrency Core Patents” as any “technology that allows the creation, mining, storage, transfer, settlement, integrity, or security of cryptocurrencies.”
By forming an association and requiring member firms to submit their patents to the Collective Patent Library, COPA hopes to spur blockchain innovation by reducing the risk of patent disputes.
Jack Dorsey, co-founder of Twitter, praised the development at Twitter, saying “it’s great.” Dorsey has stated several times that the cryptocurrency market is best served when the interests of everyone, not just the wealthy, are taken into account.
This is great https://t.co/VhwdhzaQja— jack⚡️ (@jack) January 31, 2022
For years, Meta’s interest in the cryptocurrency market has been evident. The decision to join COPA followed the official closure of the Meta Diem project. Meta is also reportedly selling the project to Silvergate Bank for $200 million. In addition, Meta also owns Novi, a digital wallet company formerly called CaLibra and launched under a project called Libra, now Diem.
Related: Diem Zuckerberg reportedly weighs sale after stablecoin plans derailed
Last year, COPA sued Australian Craig Wright, better known for his widely disputed claim to be the inventor of Bitcoin, over his attempts to copyright the Bitcoin (BTC) White Paper, an issue that has plagued the cryptocurrency community for years.
The Cryptocurrency Open Patent Alliance (COPA) has welcomed Meta as a member, and the social media giants have promised to make their core cryptocurrency patents available to everyone.
Meta, formerly Facebook, has joined COPA, a group that advocates for public patents on cryptocurrencies and blockchain-related technologies. On Monday, the organization released a statement announcing Meta and noting that Shane O’Reilly would be its spokesperson.
By joining COPA, Meta will be one of 30 other businesses that will not enforce their “core cryptocurrency patents.” COPA General Manager Max Sills describes “Cryptocurrency Core Patents” as any “technology that allows the creation, mining, storage, transfer, settlement, integrity, or security of cryptocurrencies.”
By forming an association and requiring member firms to submit their patents to the Collective Patent Library, COPA hopes to spur blockchain innovation by reducing the risk of patent disputes.
Jack Dorsey, co-founder of Twitter, praised the development at Twitter, saying “it’s great.” Dorsey has stated several times that the cryptocurrency market is best served when the interests of everyone, not just the wealthy, are taken into account.
This is great https://t.co/VhwdhzaQja— jack⚡️ (@jack) January 31, 2022
For years, Meta’s interest in the cryptocurrency market has been evident. The decision to join COPA followed the official closure of the Meta Diem project. Meta is also reportedly selling the project to Silvergate Bank for $200 million. In addition, Meta also owns Novi, a digital wallet company formerly called CaLibra and launched under a project called Libra, now Diem.
Related: Diem Zuckerberg reportedly weighs sale after stablecoin plans derailed
Last year, COPA sued Australian Craig Wright, better known for his widely disputed claim to be the inventor of Bitcoin, over his attempts to copyright the Bitcoin (BTC) White Paper, an issue that has plagued the cryptocurrency community for years.
