Major Turkish crypto exchange BtcTurk has joined the Crypto Patent Alliance (COPA) to team up with well-known firms in their mission to provide open access to patents and expand the adoption of crypto technologies.

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COPA is seeking to abolish patents as they are perceived as an obstacle to innovation in the sector. The non-profit organization advocates a more participatory approach when it comes to intellectual property. It includes well-known crypto firms such as Coinbase, Block and Aquarius.

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In addition to crypto companies, firms such as Microstrategy and Meta have also joined COPA. The firms have pledged to maintain public patents for cryptography and blockchain technologies in order to remain available to the public.

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According to Özgur Güneri, CEO of BtcTurk, in order to improve the crypto ecosystem, the firm decided to join COPA and donate some of the funds to the non-profit organization to help in its work. Güneri explained that the non-profit organization plays an important role in protecting technology in cryptocurrencies, especially Bitcoin (BTC).

In addition, the CEO of the exchange also noted that BtcTurk will cooperate with COPA on other aspects of their initiatives. This includes participating in their lawsuits and being open to inquiries from a non-profit organization.

Ayça Aktolga Ozturk, General Counsel of BtcTurk, also commented on the topic, saying that the exchange will support COPA in countering “patent trolls” or those who misuse trademark patent laws and use legal protections as leverage. The Executive Director expressed his desire to work with COPA and support the ecosystem as a whole.

Sharing cryptographic patents marks a step towards democratizing knowledge ownership

In 2020 Block, Inc. launched COPA to combine blockchain and cryptocurrency patents into one library to provide open access to technologies developed by its member firms. The Alliance acknowledged that the adoption of cryptography is at an early stage and that its success depends on the efforts of the community to develop existing technologies.