Zcash Foundation Seeks Zcash Brand Rights

The Zcash Foundation is concerned about the delay in the transfer of rights to the Zcash trademark by the cryptocurrency development company Electric Coin Company.

In a recent Zcash Foundation blog post, fund executive director Joshua Cincinnati expressed concern and disappointment at the actions of the Electric Coin Company (ECC), which allegedly broke its promise to split control of the Zcash brand.

In the past, the ECC has publicly stated
about his intention to change the form of ownership of the Zcash trademark within the framework of a legal agreement in which either of the parties, CEC or the Zcash Foundation, will be able to unilaterally prevent the illegal use of the brand.

In response to the delay in the transfer of trademark rights, the Zcash Foundation made it clear that it would delay the decision on NU4, the next update to the Zcash network. This is an important point, as the Zcash community is currently in the process of deciding whether the updated development fund for ECC will be included in the NU4 update.

Zcash Foundation Board Member Matthew Green is concerned about the timing:

“The legal problems from ECC really make it difficult to have an open debate about how to create such a fund, and frankly, it inspires me with pessimism about the idea of ​​creating a fund in principle.”

In reply
Zooko Wilcox, CEO of Electric Coin Company, said in a Zcash Foundation blog post that his firm remains committed to the “decentralized management” of the trademark. The company also proposed adding another side to the trademark agreement so that none of the three parties uses its veto power to overrule any decision made by community members.

This week Electric Coin Company reported
about losses in the first quarter of 2019 and noted that the company managed to avoid layoffs, despite financial losses.