Welcome to the Wild World of Patents
If you thought patent trolling was a phenomenon confined to the music industry, buckle up! In the realm of cryptocurrency, Square is gearing up to unleash the Cryptocurrency Open Patent Alliance (COPA). Just like the Avengers assembled to save the world, this alliance aims to defend innovative technology and protect budding crypto ventures from the villainous clutches of patent trolls.
The Birth of COPA
Founded by none other than Twitter CEO Jack Dorsey, Square is taking a groundbreaking step by creating a non-profit organization. The mission? To democratize access to cryptocurrency technology. Imagine a library—except instead of dusty old books, it’s brimming with patents over foundational technologies that are essential for innovation. COPA intends to put these patents at the community’s fingertips!
What Exactly is a Patent Troll?
For those blissfully unaware, a patent troll is not an actual creature hiding under a bridge (but wouldn’t that be interesting?). Instead, it refers to companies or individuals who acquire patents—sometimes in bulk—not to invent or innovate, but to extort money from genuine companies that might infringe upon those patents. Thanks to the burgeoning crypto landscape, such trolls are lurking ominously, waiting to pounce, which makes COPA’s efforts even more critical.
Pooling Resources for Open Access
Members of COPA will contribute their crypto and blockchain patents to a shared library, making them accessible to all involved. As the alliance aptly puts it, the technology’s success hinges on collaboration and innovation, not litigations and exclusivity. The question is, if this initiative is adopted widely, could we finally see a decline in legal dramas surrounding patent disputes in the crypto space? Here’s hoping!
Global Patent Wars: A Comparison
The statistics surrounding global blockchain patent wars are staggering. As of April 2020, Alibaba Group held the **majority**, with 2,344 patents to its name. Tencent, not one to fall behind, filed over 700 patents in just one year. In stark contrast, Craig Wright—often dubbed a “self-proclaimed Satoshi”—has faced backlash for behaving like a patent troll, securing countless blockchain patents all in the name of profit.
A Unique Approach: Learning from Music Industry
What’s fascinating is how the music industry has responded to similar patent predicaments. Visionaries like Damien Riehl and Noah Rubin have developed software that creates numerous melodies, powerfully defying the restrictive nature of music litigation. With cases like Katy Perry’s reversed ruling and John Fogerty’s seemingly endless battles, it’s clear that just like in music, the crypto community is all about the collective and fair use.
Would You Join This Alliance?
Imagine a world where innovators can freely build on existing technology without fearing a lawsuit. Would you back an alliance that stands for open access? With COPA, the hope is to transform the image of patents from industry barriers to launching pads for innovation and subsequent geeky celebrations.
