Crypto Open Patent Alliance announced welcoming Meta onboard, saying the step is the biggest commitment to patent non-aggression till today.
Related: Meta's Crypto Project Diem Shuts Down
COPA is a non-profit community, formed in September 2020 by Jack Dorsey's Square company. It has a mission to make technology on crypto accessible for all and protect core technologies by joining leading tech, financial, crypto-native and other establishments.
In the published blog post, COPA said that Meta will also join the board along with Coinbase and Block. Meta's representative will be the head of Licensing and Open Source at the company, Shayne O’Reilly.
COPA gathers crypto patents to make them accessible for all to use for defensive goals. It creates a shared patent library providing companies with tools and the possibility to defend themselves. More than 30 companies joined COPA, including Ark.io, SatoshiLabs, Kraken, Uniswap, Blockstream,MicroStrategy, OKCoin, and others.
Intellectual Property Counsel at Block and General manager of COPA, Max Sills said that Meta’s leadership in the organization emphasizes the importance of protecting open source technologies, and will aid the mission of COPA. Recently, Meta’s stablecoin project was shut down. Diem Association sold the technology and returned funds to investors.