Home / Crypto Currency / Coinbase CTO: ‘BUIDL’ Trademark Will be Given Back to Crypto Community

Coinbase CTO: ‘BUIDL’ Trademark Will be Given Back to Crypto Community

coinbase cto balaji srinivasan


CCN previously reported on a move by Coinbase to trademark the crypto rallying cry “BUIDL,” but it turns out there’s nothing to fear. According to Coinbase CTO Balaji Srinivasan, Coinbase has no interest in actually using the trademark in any way that prevents others in the community from using it themselves. They’re doing so for the good of crypto, he said, and will give it back to the community after it’s approved.

According to the tweet, billionaire Coinbase CEO Brian Armstrong and Srinivasan talked it over and concluded that there’s no need of the trademark from the company’s perspective, but they do want to protect it from other companies outside of the crypto community who might decide to trademark it.

Twitter personalities were disturbed by the move without having clarification from the company. The move has been in motion for a couple of months and is not yet official. Those who still do not like “Bitcoin banks” in general, including Coinbase, will likely not have their fears assuaged by the sentiment of the CTO. After all, just because they say they’re not going to use it for anything doesn’t mean they can’t. If a competitor decided to use the term in an advertising company, banking on the fact that they had said they don’t believe in trademarks for things like this, could they not initiate a cease and desist nevertheless? According to the Small Business Administration:

“Registering a trademark guarantees exclusive use, establishes legally that your mark is not already being used, and provides government protection from any liability or infringement issues that may arise. Being cautious in the beginning can certainly save you trouble in the long run. You may choose to personally apply for trademark registration or hire an intellectual property lawyer to register for you.”

In any case, for now, we’re all free to keep buidling and using the term buidl, a much less popular community-born watchword than “hodl.”

Featured Image from TechCrunch/Flickr

Get Exclusive Crypto Analysis by Professional Traders and Investors on Hacked.com. Sign up now and get the first month for free. Click here.
Read more

Check Also

Pay up or Else: Bitcoin Bomb Threat Emails Show up in New Zealand and Australia

Investigations are underway in Australia and New Zealand following reports of bomb threats where the sender is demanding a payment in bitcoin failure to which they will detonate an explosive device. The emails are believed to be similar to the ones that had earlier been received by various institutions and facilities in the United States The post Pay up or Else: Bitcoin Bomb Threat Emails Show up in New Zealand and Australia appeared first on CCN

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.