Electric Coin Company (ECC) recently donated the Zcash trademark to the Zcash Foundation and will now own the trademark bilaterally with the foundation.
On Nov. 6 an agreement was signed by Zcash Foundation revealing that it will be responsible for protecting the trademark bearing all costs associated with it.
The Agreement Maintains Interoperability With Standard Frameworks
Zcash Foundation mentioned on the existing disagreement with ECC regarding the future of the trademark.
NEWS: Electric Coin Co. donates #Zcash trademark to @ZcashFoundation. The novel agreement furthers decentralization and stipulates protection of the community’s voice with regard to the future of $ZEC. https://t.co/azyuN16WwY — Electric Coin Company (@ElectricCoinCo) November 7, 2019
ECC says that the trademark agreement is significant as it separated one product from the other while maintaining a reputation. It added that the trademark of Zcash brings a legal power in the blockchain governance of Zcash while protecting the community from scams.
Trademarks arent everything, but they play a key practical and symbolic role on influence on a cryptocurrency. This bespoke trademark sharing agreement between Zfnd and ECC is a huge step forward in decentralization of Zcash & an important innovation in crypto governance overall https://t.co/pcCAEycC7w — Andrew Miller 🦓🦓🦓 (@socrates1024) November 7, 2019
Zcash Foundation noted that the agreement maintains interoperability with standard legal and business frameworks.
In October, cryptonewspoint reported that Zcash (ZEC) is seeking access to Ethereum’s decentralized finance (DeFi) ecosystem.
Source: Zcash Foundation | Image: Cryptocurrency Market