Founded by Mark Zuckerberg, Meta (formerly Facebook) has joined the Crypto Open Patent Alliance (COPA), which advocates open patents for blockchain-related technologies.
The Meta representative at COPA will be Shayne O’Reilly. It is believed that the company has more than a dozen patents that are directly related to digital assets.
COPA now has 30 development companies in this area. The more companies join the alliance, the more the risk of litigation related to blockchain-based developments will decrease, COPA believes. The organization is committed to making the industry more open and accessible to developers.
COPA CEO Max Sills describes “cryptocurrency core patents” as any technology that allows you to create, mine, calculate, store, or transfer cryptocurrencies.
Meta’s decision to join COPA followed immediately after the official closure of the Diem cryptocurrency project, created at the time at the initiative of Facebook. Silvergate Bank bought Diem assets for $200 million.
However, Meta’s interests are not limited to cryptocurrencies. Earlier, the Financial Times reported that Zuckerberg’s company is developing its own NFT platform, which will be integrated into Facebook and Instagram.
Source: Bits
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