Earlier today, there were reports that Coinbase had plans to trademark and own the word “BUIDL.” This term was intentionally spelt wrongly, which is now a very popular word among developers making use of the blockchain.
Changpeng Zhao (Binance’s CEO) has made use of this word on several occasions to enlighten the cryptocurrency community that, what’s best for the bear market is to continue BUIDLing.
Members of the crypto community have voiced their wishesthat the word HODL be replaced with BUIDL
Coinbase’s trademark application
An application has been tendered before the commissioner for
Trademarks in the U.S. This application can be viewed online which clearly says
that Coinbase Inc., a Delaware Corporation (USA) is the only applicant with
intentions to trademark the term BUIDL.
The Chief Technology Officer of Coinbase, Balaji Srinivasan has noted the Twitter talk about the firm trademarking the term. He spoke out clarifying on Twitter that Brian Armstrong (CEO of Coinbase) and himself, do not believe in the trade of words that are definitely owned by the blockchain and crypto communities.
On Twitter, Mr Srinivasan said:
“Saw the commotion on Twitter & dug into this. Coinbase filed thetrademark for BUIDL some time back. I learned about it today & chatted with team. TLDR is that @brian_armstrong & I don’t believe in trademarks for stuff like this so we’ll be giving this one back to the community.”
The firm’s CTO also made it clear that Coinbase had no intentions of putting a stop to the use of the term by communities. He said: “
The team had no intention to prevent the community from using it. There had been thought of a feature named Coinbase BUIDL and they didn’t want to attract patent trolls for a common term. Was 100% defensive filing.”
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