is doing wrong and why it matters. 🧵Thread.
Using someone else's idea for monetary gain is the problem here. Just imagine if this happened to you.
coinbase BTC Bitcoin
Now just using the patented technology is one thing, but to completely ignore it, and it's value to your operation shows pure neglect of proper business practices.
Coinbase knew at least 4 months prior to the suit they were infringing. However, when coinbase went public last year, they knew it then too. And probably so did investors which would explain COIN stock dump since launch.
The ripple effect, this entire defi industry is built using this technology. So Coinbase will not be the last. Hopefully this case will set a new standard in the industry.
Patents are crucial to not just American innovation but global innovation. Remember Nike? Well the woman who created the swoosh didn't get her credit until nearly a decade after they took over the market with her logo.
If we continue to let those like @coinbase
and others steal ideas from those with good intentions for the market, you will DIRECTLY hinder future innovation in crypto
Lastly, since everyone wants to tie this back to freedom and such, IP protection was written into the US Constitution by our founding fathers. So @ReggieMiddleton
has a CONSTITUTIONAL right to do what he is doing.
This post is based on this twitter thread.