A financial services company from San Francisco, Square, Inc. has been looking to take up the operations of its recently-formed Crypto Open Patent Alliance (COPA) with a new lawyer.
Referring to the company’s job description, the lawyer will be mostly responsible for managing the operations and executions that gear at meeting the association’s mission.
What is Square COPA?
The COPA’s main objective is to democratize patents for crypto companies; this ensures access to more crypto technology. That company has said that the “patent lockup” of initial crypto technologies could stunt the innovations and dissuade mass-adoption in the budding industry. COPA will enable a shared library where members pool their patents and allow each other to access them, pledging never to use it against anyone.
Square specifically said in the announcement:
Square needs an experienced lawyer.
The new position requires a lawyer with an Internet Protocol (IP), legal, and business skill in the job description. By joining the legal organization, the lawyer is expected to possess rich knowledge of judicial, legislative, industry/community growths on patent pools, and defensive patent aggregation. Adding to that, the company also included that the lawyer will be in charge of “all-things crypto within Square’s IP operations.”
In the first few months this year, Square has bagged a patent for its digital currency payment network; they have reportedly converted the payments from fiat to non-fiat currencies in an instant. The company has been working toward the massive adoption of Bitcoin and the crypto industry, mainly via its crypto-focused entity Square Crypto.
As reported in January this year, the crypto company developed its first-ever product named Lightning Development Kit.
It just simplifies the integration of Lightning by removing the need to create a new wallet and so, leading the mass Bitcoin adoption by advancing its transactions.