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Bitpay has announced that it is joining the Square-founded crypto patent effort the Crypto Open Patent Alliance (COPA). The world’s largest provider of cryptocurrency payment services will share open-source projects and use a shared patent library with the crypto patent organization. Bitpay has been working with blockchain products since 2011.
Founder and Chief Executive Officer of Bitpay, Stephen Pair, sees the COPA partnership as step in the right direction.
“Bitpay 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,” Pair commented.
The Bitpay CEO added:
“We see both business and consumer adoption accelerating as a result of COPA industry leaders working together to advance technology innovation making the blockchain easy to use for both businesses and consumers.”
COPA’s Board Chair: ‘We Want to Eliminate Barriers to Innovation’
COPA safeguards open access to patents and protection from patent threats. It is a non-profit organization and many prominent crypto companies have joined its mission. On January 1, 2020, the newly Nasdaq listed exchange, Coinbase, had already joined COPA. Other companies include Bitbank, Satoshi Labs, Ark.io, Blockchain Commons, Kraken, Stacks, Square, Microstrategy, and Stakenet.
Kirupa Pushparaj, COPA’s Board Chair confirmed their mission during the Bitpay announcement by saying:
“We 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.”
Anyone can join the organization and benefit from the alliance. “Regardless of whether they have patents or not,” the website reads. “COPA acknowledges that cryptocurrency technology is built on the collaborative efforts of a community made up of developers, engineers, and designers.”
Recently, COPA filed a civil lawsuit against, Craig Wright over the ownership of the Bitcoin white paper, thereby safeguarding the interests and integrity of the crypto industry.