The worldâ€™s largest provider of cryptocurrency payment services, Bitpay has announced the company is joining the Square-founded crypto patent effort the Crypto Open Patent Alliance (COPA). Bitpay has been working with blockchain products since 2011 and the firm will share open-source projects and use a shared patent library with the crypto patent organization.
Bitpay Joins Crypto Patent Effort COPA
The Atlanta-based cryptocurrency payment and blockchain company Bitpay is joining forces with COPA. The Crypto Open Patent Alliance was originally invoked by Square, Inc., and the organization bolsters open access to patents and protection from patent threats.
On January 1, 2020, the San Francisco-based company which was just listed on Nasdaq, Coinbase, joined COPAâ€™s mission as well. The founder and CEO of Bitpay, Stephen Pair, believes partnering with COPA is a step forward toward innovation.
â€œBitpay is partnering with and supporting COPA because we believe that the blockchain space is at an inflection point where crypto is becoming mainstream forever changing the way businesses and consumers receive and spend funds,â€ Pair explained during the announcement.
The Bitpay founder added:
COPAâ€™s Board Chair: â€˜We Want to Eliminate Barriers to Innovationâ€™
The nonprofit COPA is made up of companies like Coinbase, Bitbank, Satoshi Labs, Ark.io, Blockchain Commons, Kraken, Stacks, Square, Microstrategy, and Stakenet. Anyone can join the consortium of firms and benefit from the patent alliance. â€œRegardless of whether they have patents or not,â€ organizations can join COPA notes. â€œCOPA acknowledges that cryptocurrency technology is built on the collaborative efforts of a community made up of developers, engineers, and designers.
â€œWe want to eliminate barriers to innovation, rather than letting patents become one, and welcome BitPay and their many contributions to the blockchain and payments space,â€ Kirupa Pushparaj, COPAâ€™s Board Chair concluded during the announcement.
Just recently, COPA filed a civil lawsuit against the self-styled Bitcoin inventor, Craig Wright over the ownership of the Bitcoin white paper.
What do you think about the Atlanta-based Bitpay joining up with COPA? Let us know what you think about this subject in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.