Creator of Zcash donates the brand to Zcash Foundation

The creators of Zcash, Electric Coin Company (ECC), donated the property of the criptomoneda to Zcash Foundation. After an agreement that was signed last November 6, the Foundation Zcahs will be financially responsible for the costs associated with the brand. This includes the allocation and protection of the trademark. With this agreement, also brings to an end the total liability of ECC had on the criptomoneda. The company launched Zcash (SACS) in 2016 and will now be the owner of the trademark bilaterally. You can, however, that this new cooperation has started with the best foot. When they announced the news, Zcash Foundation ensured that there was a disagreement with ECC on the future of the brand. The foundation pointed out that it was necessary to return to negotiations with ECC after not reaching an agreement at the end of August 2019. Finally, they managed to reach a common solution with regard to who would be the new majority owner of the criptomoneda. But start with those tensions can create insecurity among the investors. For the time being, the majority of the opinions on this have been positive. However, it is not ignored that there are certain elements that can generate a certain level of distrust.

The ECC and the process of leaving Zcash

Up to now, the ECC said that it invested about 500 hours and spent $ 250,000 in the registered trademark. It is for this reason that considered an issue of vital importance to recognize the agreement of a registered trademark. As for the company, it is a way of protecting your reputation and differentiate one product from another. In addition, the company said that the trademark Zcash protects the community. The way to do it is to give legal power to the government of the network Blockchain of this digital currency. According to ECC, the donation to the foundation allows them to solve two major problems. The first is to honor and support the comments from the community of Zcash. The second is to decentralize even more to the organization. The Foundation Zcash noted that the agreement maintains the interoperability with frameworks standard both legal and commercial. At this point, it is important to remember that in October, Zcash has suffered an attack to its security. Appeared a version spoofed and potentially malicious of the ZecWallet. It is for this type of cases that the ECC and the Zcash Foundation is allied, so that you can prevent such situations. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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