A dogfight broke out over the question of who has the right to name DogeCoin.
DogeCoin is a digital currency that became famous for being a satire on the crypto world. In the beginning, it was planned as a joke for a few hours. The coin is a tribute to a viral internet meme from 2013 about a non.Japanese returning dog that has chronic spelling problems (hence the word dog is spelled Doge and not Dog).
The coin makers intended it to be worthless, but this year the coin reached the center of the stage thanks to a push from Tesla CEO and digital coin mascot Alon Musk. $ 80 billion. Today, its market capitalization is about $ 31 billion.
Along with this appeared several similar projects and a battle ignited as to who owns the registered mark on the dojkoin.
The DogeCoin Association, a Colorado association founded in 2014 by DogeCoin creators and supporters, has not submitted a formal application for the DoCoin brand name until the end of August. Her application now sits alongside six other similar applications in the U.S. Patent and Trademark Office, all competing for the use of the DogeCoin brand, which in addition to cryptocurrencies, has also popped up on baby blankets and two.piece suits for men.
“Most people believed it was unprofitable to register such registered marks because who knows how long it would survive. Now we have some regrets that we did not,” said Jens Wickers, a board member of the DogeCoin Association. The union, which had been dormant for several years, came back to life in August.
Musk did not respond to a request for comment. He appointed a representative on his behalf to advise the board of the DogeCoin Association. Earlier this week, Musk tweeted a picture of the returning puppy is not his new one, named Flocki.
Floki has arrived pic.twitter.com/2MiUKb91FT
– Elon Musk (@elonmusk) September 12, 2021
There are today nearly 100 cryptocurrencies that use the nickname “Doge” or these acronyms, according to CoinMarketCap.com. New projects from the year include Dogelon Mars and Baby Doge Coin.
On May 24, the company Moon Rabbit AngoZaibatsu signed up for a registered trademark on the DogeCoin name in the US and EU.
Moon Rabbit AngoZaibatsu founder Angel Versti said he had created a new dogcoin on his company’s blockchain network when he noticed that the original dogcoin union had been abandoned. It says it has upgraded the original DogeCoin open source, which anyone can copy from GitHub, Microsoft’s code.sharing platform.
Vesti says he founded another company in the Cook Islands called the DogeCoin Association this year. Last month, the Dogecoin Association of Colorado announced that the Cook Cook Dogecoin was “trying to profit unfairly from the goodwill that Dogecoin built.”
“We are not doing this with any malicious intent,” Vesti said. “We thought it was abandoned, we thought it urgently needed guidance. We are not going to make a U.turn just because the big boy is back on the playground.”
Copy of copy of copy
Territoriality regarding the DogeCoin brand seems to many in the crypto work environment to be ironic. Cryptocurrencies rely on an ethos of decentralized ownership. Bitcoin, the first crypto currency, was designed so that it did not belong to anyone.
The US has not approved a registered mark on a cryptocurrency called Bitcoin. The brand’s second largest in terms of popularity, Ether, is controlled by the Swiss Ethereum Association, which is developing the currency and its extensive crypto network.
The dojocoin itself was initially created by copying and modifying another open source cryptocurrency called luckycoin. LuckyCoin was a modified version of Litecoin, which itself was a modified version of Bitcoin. (On Monday, a Pike News announcement allegedly issued by the Walmart network claimed that the huge network would start allowing customers to make payments in Lightcoin, a relatively remote cryptocurrency).
“It’s a replica of a replica of a replica,” Vesti said of the DogeCoin. “There is nothing of value in the code itself. It exists only because of its community, not because of any technological reason.”
By a registered mark list, crypto projects can prevent and stop other organizations from creating products that may confuse users as to which brand supports the currency.
The original DogeCoin creators may have a valuable claim on the name because the coin has been used as a cryptocurrency for nearly a decade, said Caroline Simmons, a Boston partner in the law firm of Eric, Harrington and Satcliffe, who specializes in intellectual property laws and is not involved in the DogeCoin dispute. The process for listing a registered mark can sometimes take more than a year.
In August, a DogeCoin lawyer from Colorado sent a letter to a project known as DogeCoin 2.0. He demanded a change in the name of DogeCoin 2.0, the website address and other materials within a few days. Wickers said the name may be mistaken for a second version of the DogeCoin project.
“The doge from day one has positioned itself against the establishment and has now become an establishment,” said Cam Giri, creator of the DogeCoin 2.0 project. “There are 9,000 other DogeCoin projects. Why are they chasing us?”
Dogecoin 2.0, Giri said, seeks to resolve a long.running controversy in the Dogecoin community: whether to limit the number of coins as a way to increase its value. The project, which defines itself as “Dogecoin but upgraded”, has limited the number of coins that can be mined to 100 million.
DogeCoin should not be surprised that there are so many imitations because it constitutes one in itself, said Chris Bendixen, head of research at asset management firm London CoinShares.
“Imitators like a parrot or a dog would grow up for it. Such is this space,” he said. “It’s very hard to even laugh and do satire nowadays. Almost the whole world is becoming a joke.”