Coinbase joins Square-led Cryptocurrency Open Patent Alliance (COPA)

The largest American cryptocurrency exchange Coinbase has joined the board of the Cryptocurrency Open Patent Alliance (COPA). Along with the trading platform, the initiative has been supported by 18 companies, according to a statement from the consortium.

Coinbase pledged to promote the idea of an open patent base for all companies. The alliance described such an approach as a way to address problems arising from patent-blocking of fundamental cryptocurrency technologies.

Among COPA members are Satoshi Labs, Kraken, Protocol Labs and Blockstream. Board members include Square Crypto head Steve Lee and Paradigm partner Dan Robinson.

“Independent members of the board are regarded as experts within the community. They are well known for their contributions to advancing cryptocurrency initiatives,” said alliance representatives.

Earlier, the COPA was initiated by the payments company Square led by Jack Dorsey. It proposed forming an open patent library to foster innovations in the cryptocurrency industry.

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