The founders of Zcash, a cryptocurrency aims to provide enhanced privacy for users has handed over their trademarks to Zcash Foundation, a non-profit organization that supports the cryptocurrency project for free.
Zcash was launched by Electric Coin Company (ECC) in 2016, were the original owners for the trademark registration and protection of the brand. After months of negotiations, the ownership was transferred to the foundation in hopes to further decentralize the project.
The transfer of ownership was for free, however, there are some caveats.
For example, exclusive rights over the trademark are non-applicable. Both parties need to approve each other in the usage of the trademark. Other than that, for any network upgrades, it must be agreed between both parties.
In the case of hard fork happened, both parties will not be identified as Zcash and the coin will cease to exist.
The step taken by both parties might not change much, however in terms of mutual understanding on the future course for the cryptocurrency, it is probably the best.
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A writer, hustler, believer in continuous learning, and believer in creativity can change the world for the better. In Techcryption, Jumali is the Broadcast News Analyst for Bahasa Malaysia and English, covering the 4.0 Industry.