Companies use Square to reach buyers online and in person, manage their business and access financing. Square has become the largest micro merchant payment platform is the United States, and is growing internationally. As a provider of Fintech-based services, Square has become a significant advocate for reducing patent risk in the cryptocurrency and blockchain technology sectors. In order to demonstrate its commitment to shared innovation in core blockchain technology, it co-founded the Cryptocurrency Open Patent Alliance (COPA).
COPA is designed to limit patent risk by members agreeing not to sue each other using patents based on core cryptocurrency and blockchain technology. This allows companies to share core technology innovations while focusing their resources on more valued, differentiating technology that is customer-facing, on their services platforms.
This is in line with the value offered by joining the Open Invention Network, the largest patent non-aggression community in history. The most popular and successful cryptocurrency and blockchain platforms run on Linux, the largest open source project. Additionally, key blockchain technologies like Hyperledger are also open source-based, and covered by the Open Invention Network’ Linux System Definition – the list of software components covered by the OIN royalty-free cross license.
Square and COPA joining Open Invention Network enables companies that leverage Fintech, and in particular blockchain and cryptocurrency technology, to feel confident in their technology investments.
“As a global leader in the effort to democratize financial services, we are pleased that Square is committed to patent non-aggression in core Linux and adjacent open source technologies.” said Keith Bergelt, CEO of OIN.
“We recognize the value in shared innovation, a fundamental characteristic of open source communities. In addition to joining OIN, Square is one of the founders of the Crypto Open Patent Alliance (COPA), a collaborative consortium in which members pledge not to use their crypto technology patents, except for defensive purposes,” said Max Sills, Counsel at Square and General Manager of COPA . “Our participation in the OIN community demonstrates our commitment to support collaborative technology development.”
OIN’s community practices patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by Open Invention Network are similarly licensed for free to any organization that agrees not to assert its patents against the Linux System.
| MORE NEWS | | SHARE NEWS WITH OUR EDITOR |
