Foundation Says Developer of Zcash (ZEC) Violated Trademark Promise
A crisis is happening in the Zcash (ZEC) community. The nonprofit Zcash Foundation has recently accused the Electric Coin Company (ECC) of promising to let the foundation share its trademark and then backing down afterward.
According to the foundation, this has lowered the whole ecosystem to the level of “decentralization theater”. The people are at the foundation are so mad because the community has been awaiting a lot for this moment. The promise was originally made back in 2017.
Even during a recent convention, the CEO of the ECC Zooko Wilcox affirmed that both organizations were committed to be partners and to lead the way together. At the time, Wilcox affirmed that the trademark would be shared. This was only months ago. The CEO affirmed that the partnership would have long and good effects in the industry, so it is surprising so see the decision changing so much.
It seems that this event will deeply affect the Zcash community. The members of the foundation have complained that this decision will harm several projects that were being planned or developed and that this will harm the community a lot.
They have also argued that by arbitrarily holding the trademark, the company will have a lot of power and that the foundation will not lend its credibility to legitimize a process that was said to be hollow.
Finally, the foundation also criticized the ECC for its excuse to deny trademark sharing. According to the company, they envision “the evolution of alternative governance models”. This was written off as yet another hollow promise from a company that cannot be trusted anymore.