BitPay joins COPA to share open source projects & use shared patent library

By Pavithra R

Blockchain payment technology provider BitPay has announced a partnership with the Crypto Open Patent Alliance (COPA) to share open-source projects and use a shared patent library.

Founded initially by Square, COPA believes open access to patents and freedom from threats on foundational cryptocurrency technologies is requisite for the industry to grow, innovate, and build new products. It non-profit community of like-minded people and companies formed to encourage the adoption and advancement of cryptocurrency technologies and to remove patents as a barrier to growth and innovation.

“BitPay is partnering with and supporting COPA because we believe that the blockchain space is at an inflection point where crypto is becoming mainstream forever changing the way businesses and consumers receive and spend funds. We see both business and consumer adoption accelerating as a result of COPA industry leaders working together to advance technology innovation making the blockchain easy to use for both businesses and consumers,” said Stephen Pair, CEO of BitPay.

COPA acknowledges that cryptocurrency technology is built on the collaborative efforts of a community made up of developers, engineers, and designers. It provides an open patent strategy where anyone can join and benefit from the alliance, irrespective of whether they have patents or not.

“We want to eliminate barriers to innovation, rather than letting patents become one, and welcome BitPay and their many contributions to the blockchain and payments space,” said Kirupa Pushparaj, COPA Board Chair.

BitPay builds powerful, enterprise-grade tools for crypto acceptance and spending. The FinTech is developing blockchain payment technology to transform how businesses and people send, receive, and store money worldwide. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency.