Blockchain Zone Initiative Launched To Protect Against Patent Trolls

According to Odaily, the Cryptocurrency Open Patent Alliance (COPA) and Unified Patents have announced the launch of the 'Blockchain Zone,' an initiative targeting patents controlled by non-practicing entities (NPEs). This initiative covers a range of technologies including NFTs, wallets, and smart contracts. COPA stated that the partnership aims to protect blockchain companies and developers from 'baseless and costly' legal claims by patent trolls, who leverage high litigation costs to negotiate settlements. These entities profit by licensing patents or suing those who use patents without permission, despite not using the patents themselves. Unified Patents data indicates that these entities accounted for 58% of all patent litigation in the U.S. last year, with 95% of the cases targeting tech companies.