Leading Turkish crypto exchange BtcTurk has joined the Crypto Patent Alliance (COPA) to partner with leading companies in their mission to provide open access to patents and drive adoption of crypto technologies.
COPA aims to abolish patents because they are seen as an obstacle to innovations in the sector. The association favors a more community-based approach to intellectual property. Its members include leading crypto firms like top companies like Coinbase, Block, and Aquarius.
Besides crypto-native companies, companies like Microstrategy and Meta also joined COPA. The companies have pledged to maintain public patents on crypto and blockchain technologies to remain publicly available.
According to Özgür Güneri, CEO of BtcTurk, in order to improve the crypto ecosystem, the company decided to join COPA and donate funds to the nonprofit to help with its work. Güneri explained that the non-profit organization plays an important role in protecting technologies within crypto, especially with Bitcoin (BTC).
Additionally, the exchange CEO also noted that BtcTurk will cooperate with COPA in other aspects of their initiatives. This includes involvement in their legal processes and being open to requests from the nonprofit.
Ayça Aktolga Öztürk, Chief Legal Counsel of BtcTurk, also commented on the subject, saying that the exchange would support COPA in its fight against “patent trolls”, or those who maliciously use patent laws and use legislative protection as leverage. The executive expressed enthusiasm for working with COPA and supporting the ecosystem as a whole.
In 2020, Block, Inc. launched COPA to blockchain and crypto patent pool in a single library to ensure free access to the technologies developed by its member companies. The alliance recognized that crypto adoption is in its early stages and its success depends on community efforts to grow on top of existing technologies.