Mark Zuckerberg’s Meta Joins COPA: Implications, Intention, and Innovation?

Paigambar Mohan Raj
Facebook
Source: qz.com

Meta has joined the Crypto Open Patent Alliance (COPA), which supports innovation by minimizing the risk of patent litigation. This is the largest cryptocurrency patent pledge to date.

Along with Coinbase and Block, Meta will join COPA’s board of directors. Shayne O’Reilly, who oversees Meta’s licensing and transactions business, will represent the company. COPA’s position as the main cryptocurrency patent alliance, which is working to create a collaborative, open-source-centered environment to preserve essential technologies for all users, has been cemented by this decision.

Implications of Meta joining COPA

Meta has already garnered much attention ever since Mark Zuckerberg made its big announcement in October of 2021. It is of no surprise anymore that the future is digital, and we are in a time of incredible flux and change. As we transition to a more digital environment, there are sure to be barriers and problems that come along the way. To address these issues, and to make the transition a smoother experience, institutions are joining hands to cater to the needs of the time. 

By joining COPA, Meta has pledged to not get in the way of innovation, and instead help users engage their creativity and understanding. 

COPA founder Jack Dorsey resorted to Twitter to cheer this new development. 

Meta’s willingness to join COPA is an important step in the ease of patenting technologies and innovations, which is a cornerstone for the development of the space into what it may become in the future.

Meta has agreed not to enforce its essential cryptocurrency patents against anybody except for defensive purposes by joining COPA, effectively making these patents publicly available to anyone. This clarifies their intention of not wanting dominance over the crypto space, but rather wanting to help in its development.

What is COPA?

The Cryptocurrency Open Patent Alliance (COPA) is a non-profit organization of like-minded individuals and businesses whose goal is to promote the acceptance and advancement of cryptocurrency technology by eliminating patents as a barrier to growth and innovation.

COPA will be managed by a board of nine individuals, including three from the crypto and open source communities who aim to improve and make crypto more accessible to everyone, and six from member companies.

COPA is forming a cross-industry effort to safeguard and foster cryptocurrency innovation, with the objective of joining huge technology corporations like Meta, financial services organizations, crypto-native companies, and others. Block, Coinbase, MicroStrategy, Kraken, Chaincode Labs, Uniswap, and now Meta are among COPA’s over thirty members.