BtcTurk, a major Turkish cryptocurrency exchange, has joined the crypto patent alliance. This alliance consists of prominent firms who share the mission to openly access patents and enable the adoption of crypto technology.
COPA seeks to eliminate patents because they are seen as a barrier to innovation within the sector. The non-profit favors a more collaborative approach to intellectual property. Its members include notable crypto firms such as Block, Coinbase and Aquarius.
COPA has also been joined by Meta and Microstrategy, which are both crypto-native firms. They pledged to protect public patents on blockchain and crypto technology to ensure that they are available to all.
Ozgur Guneri is the CEO of BtcTurk. The firm joined COPA to donate funds to the non-profit to support its work. Guneri stated that the nonprofit plays an important role in crypto technology protection, particularly with Bitcoin (BTC).
The exchange CEO noted that BtcTurk would cooperate with COPA on other aspects of their initiative. This includes being involved in their judicial process and being open for requests from the non-profit.
Chief legal counsel of BtcTurk Ayca Aktolga Otturk also commented on this topic. She stated that the exchange would support COPA in fighting “patent trolls,” those who misuse trademark-patent laws to their advantage and use legislative protection as leverage. The executive expressed enthusiasm to support COPA and the entire ecosystem.
Related: Crypto patent sharing marks a step towards democratizing knowledge ownership
Block, Inc. created COPA in 2020 to bring together crypto patents and blockchain technology into one library. This library will allow members to have open access to all the technology they developed. The alliance acknowledged that crypto adoption is still in its infancy and that success will depend on the community’s ability to build on existing technologies.
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