Chia recently updated their site and launched a new catchphrase, The Internet Of Markets, of which they have applied for a US Trademark on. I wrote about why I like the idea, but that locking it behind a trademark may harm the endeavor.
I like the cut of your jib and you seem like you have the spirit of old-school-4th-branch-as-intended journalism. You make many valid points when applied to crypto space as it has existed up to this point.
At some point though some blockchain has to mature into an actual utility and the reality of that means more regulation, more oversight, more protections, while still maintaining the trust and transparency of an open source blockchain. Companies do have to defend their IP or risk becoming ubiquitous and powerless to stop the dilution of their IP and thus, profits.
It’s a tough balancing act for certain and it will be interesting to see how this all plays out. Unfortunately, someone has to be the first to dive into the deep end, and the Chia team seems to have planned that out from the start.
Heavy-handedness sucks though and I know you understand that from personal experience.
Keep up the good work. We need people like you in the Chia ecosystem.
I totally agree, and I don’t begrudge them that. But other, large companies will not use “The Internet of Markets” branding if they need to agree to a one-party revocable contract. That’s my point. I think they should create a brand separate from the core idea and protect that, much like the IoT World Alliance or other groups.
I think we have to keep in mind that trademark is only enforceable to some extent. Morover, the legal ramifications of using the expression “internet of markets” aren’t as clear cut as, say, a patent infrigment or fraudulent use of a brand name.
I’d be curious to see a followup on a broader topic, where you could interview an expert, regarding how Chia uses the legal system in its corporate development strategy.
In the OP, you wrote that they applied for a trademark on “The Internet Of Things”. Did you mean “The Internet of Markets”?
I’m sure they meant Internet of Markets because the term Internet of Things (IoT) has been in use since 1999 Why the Internet of Things is called Internet of Things: Definition, history, disambiguation. I am quite sure Chia won’t be able to trademark IoT.
Yes thank you, fixed.