Meta recently joined the Crypto Open Patent Alliance (COPA), where it promised to make its major cryptocurrency patents free to everyone.

The COPA group advocates having all technology patents related to cryptocurrencies and blockchain publicly. This week the Facebook-owned company joined the organization, with Shayne O’Reilly as its representative.

Meta will become one of 30 other companies that have pledged not to enforce their “core cryptocurrency patents” COPA CEO Max Sills describes “core cryptocurrency patents” as any “technology that enables the creation, mining, storage, transmission, settlement, integrity or security of cryptocurrencies.”

With the COPA initiative, it is hoped that it will stimulate the growth of blockchain innovation while reducing the risk of patent litigation.

By forming an association and requiring member companies to contribute their patents to a collective patent library, COPA hopes to spur blockchain innovation by reducing the risk of patent litigation.

K. Tovar

Source: Cointelegraph

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