The major Turkish cryptocurrency exchange, BtcTurk has joined the Cryptocurrency Patent Alliance (COPA) to team up with leading companies in its mission to provide open access to patents and drive adoption of cryptocurrency technologies.
COPA aims to abolish patents, as they are perceived as an obstacle to innovations within the sector. The non-profit organization is in favor of a more community approach when it comes to intellectual property. Its members include prominent cryptocurrency companies such as Coinbase, Block, and Aquarius.
Aside from crypto companies, firms like MicroStrategy and Meta have also joined COPA. The firms committed to holding public patents on cryptocurrency and blockchain technology so that they are accessible to the public.
According to Özgür Güneri, CEO of BtcTurk, as a way to improve the cryptocurrency ecosystem, the company decided to join COPA and donate some funds to the non-profit organization to help their work. Güneri explained that the non-profit organization plays an important role in protecting technologies within cryptocurrencies, especially Bitcoin (BTC).
Furthermore, the CEO of the exchange also noted that BtcTurk will cooperate with COPA on other aspects of its initiatives. This includes participating in their legal proceedings and being open to requests from the non-profit organization.
Ayça Aktolga Öztürk, BtcTurk’s chief legal advisor, also commented on the issue, saying that the exchange will support COPA in fighting “patent trolls”, or those who maliciously use trademark patent laws and legislative protection as lever. The executive expressed his enthusiasm for working with COPA and supporting the ecosystem as a whole.
In 2020, Block, Inc. launched COPA to bundle blockchain and cryptocurrency patents into one library to ensure open access to technologies developed by its member companies.. The alliance recognized that the adoption of cryptocurrencies is in its early stages and that its success depends on community efforts to build on existing technologies.
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