OKCoin joins Crypto Open Patent Alliance to support blockchain adoption

OKCoin joins COPA image

OKCoin joins Crypto Open Patent Alliance to support blockchain adoption

We’re excited to announce that OKCoin has joined the Crypto Open Patent Alliance (COPA). COPA is a non-profit consortium created by payments app, Square that is focused on protecting the right to crypto-related technological innovation. We’re joining COPA as part of our larger mission to encourage the development and adoption of crypto and blockchain technology and build a more open financial system.

At OKCoin, we stand for the original, decentralized and open-source ethos behind the cryptocurrency ecosystem. As we continue to invest in the development of Bitcoin and the larger crypto industry, joining COPA is a natural step towards our larger goal of creating a more inclusive, open financial ecosystem. 

Defending Bitcoin

Last week we announced our decision to suspend trading of Bitcoin hard fork assets BCH and BSV as part of our commitment to supporting the original ethos of Bitcoin, including decentralized access to information. Part of what moved us to make that choice was what we saw as an aggressive attempt to control and influence the Bitcoin brand and public information about it contained in the original Bitcoin white paper. These efforts — which COPA itself publicly challenged last month — were namely led by Craig Wright, a major supporter and influential stakeholder of BSV. To learn more about our decision, please read the full post from OKCoin CEO, Hong Fang.

What is COPA?

COPA is an organization that aims to make crypto and blockchain technology more accessible to developers and the public. More specifically, COPA members agree to contribute their crypto and blockchain-related patents to a shared patent library, encouraging members to defend against offensive use of crypto patents, which threatens the development of this emerging technology.

COPA members also pledge to never use crypto patents offensively in litigation, protecting the original open-source ethos of the cryptocurrency community and related technological developments.

Square announced the creation of COPA in September 2020, opening up membership to any company or individual, regardless of whether or not they own any patents. Since then, a total of almost 20 companies have joined the initiative, with OKCoin as the newest member. 

Read more about how OKCoin supports the Bitcoin and wider crypto industry. 

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