With the recent surge in popularity of cryptocurrencies and related technologies Square felt an industry group was needed to protect against litigation and other threats against core cryptocurrency technology and ensure the ecosystem remains vibrant and open for developers and companies.
The same way Open Invention Network OIN and LOT Network add a layer of patent protection to inter-company collaboration on open source technologies COPA aims to protect open source cryptocurrency technology. Feeling safe from the threat of lawsuits is a precursor to good collaboration.
By joining COPA a member can feel secure it can innovate in the cryptocurrency space without fear of litigation between other members.
Squares core purpose is economic empowerment and they see cryptocurrency as a core technological pillar. Square helped start and fund COPA with the hope that by encouraging innovation in the cryptocurrency space more useful ideas and products would get created. COPA management has now diversified to an independent board of technology and regulatory experts and Square maintains a minority presence.
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