As a seasoned crypto investor with over a decade of experience navigating the tumultuous waters of digital assets, I can’t help but breathe a sigh of relief at the announcement of the Blockchain Zone by COPA and Unified Patents. For years, patent trolls have been a persistent thorn in the side of innovation within our industry, stifling progress and sowing doubt among developers and investors alike.
Today, the Cryptocurrency Open Patent Alliance (COPA) teamed up with Unified Patents to debut the Blockchain Protection Area. This collaborative effort is designed to safeguard the blockchain community from patent hoarders and discourage non-active patent holders (NPEs) from making unjustified patent claims that might impede the progress and creativity in the field of blockchain technology.
In collaboration, COPA and Unified Patents aim to safeguard blockchain technologies against baseless and expensive legal claims made by entities who seek to profit from the high costs of patent disputes by forcing settlements.
Paul Grewal, Coinbase’s Chief Legal Officer and a part of COPA, expressed that patent trolls pose obstacles in the journey of innovation. These entities slow down technological advancement and dampen creativity, notably within the rapidly changing landscape of cryptocurrency. It is crucial to put a stop to them to allow the community to carry on with the significant task of constructing the crypto-economy unimpeded.
In the past, organizations like COPA and Unified Patents have been effective at curbing patent abuse in various technological fields. The Blockchain Zone extends this success by emulating Unified Patents’ Transactions Zone, which has effectively contested hundreds of patents that posed a threat to electronic transactions, online bill payments, and authentication in the digital realm.
Steve Lee, who leads Spiral (a Block subsidiary) and is part of COPA, stated that COPA has been tirelessly working to eliminate obstacles in the development of cryptocurrency. This includes challenging misleading intellectual property claims concerning Satoshi Nakamoto’s identity, which have caused issues within the bitcoin community. Now, COPA aims to extend their work by shielding the crypto community from patent bullies.
As a researcher in 2023, I’ve observed that Non-Practicing Entities (NPEs) continue to dominate patent litigation, accounting for approximately 58% of such cases, which is consistent with the average over the past five years. The unique approach taken by Unified Patents sets it apart as the sole solution aimed at curbing NPE activities. Crucially, Unified never makes any payments to NPEs, be it for licensing agreements or otherwise. This strategic stance ensures that Unified does not inadvertently encourage further NPE activity.
To safeguard COPA members from the expensive and laborious legal disputes frequently connected with Non-Practicing Entity (NPE) litigation, Unified Patents offers a protective mechanism that allows costs to be passed on.
Kevin Jakel, founder and CEO of Unified Patents, LLC., expressed his joy about collaborating with COPA, stating that their distinctive solution would be beneficial for the blockchain community. This collaboration offers a fantastic chance to guarantee that the technology continues to foster business growth, minimize transaction costs, and avoid being obstructed by baseless patent claims, which are prevalent in other sectors of the economy.
Read More
Sorry. No data so far.
2024-10-01 23:19