Ethereum: Why is MtGox trying to trademark “Bitcoin”?

Ethereum: Why do you try to make MtGox “Bitcoin”?

MTGOX, a popular online stock exchange that facilitates bitcoin transactions between 2010 and 2018, tries to mark the name “Bitcoin”. This movement has caused concerns between the cryptocurrency community, and for the reason we sink.

According to reports, Tibanne Co., a Japanese company in Tokyo, has submitted a Ltd. application to the USPTO Commercial Brands Office to register the “Bitcoin” brand as a commercial brand. MtGox is looking for the protection of its own brand, which claims to be the same or confusion as the brand proposed by Tibanne.

The reasons that served as the basis for the MTGOX test on the “Bitcoin” brand is not clear. However, there are additional explanations:

1
Competition : The Kryptovaluta market is extremely competitive and MTGOX can try to protect its brand, claiming the property of “Bitcoin”. This can cause confusion between users and merchants who interact with MTGOX.

• Lack of competition

  

  : Despite being well -known online exchange, MTGOX was never on the Bitcoin market. By marking “Bitcoin”, MTGOX can try to settle as the only issuer of the name, thereby gaining advantage over other stock exchanges that do not use the brand.

• Identity of the brand : MTGOX based the brand on the principles of “extremely safe” and “experienced”. By registering with Bitcoin as a trademark, the company can try to emphasize its own brand identity and create exclusivity.

The movement has expressed concern to users and investors who are unaware of the consequences of the MTGOX brand application. Some have expressed their dissatisfaction with social media platforms, asking for and asking for replacement to give up trying to launch the “Bitcoin”.

It is worth noting that the law of trademarks is complex and the USPTO has strict orientation for brand applications. The agency examines each request based on factors such as:

* Distinctive : Brand is unique and probably does not cause confusion with other brands?

* Relief

: Does the brand appear in everyday life or in commerce?

* Intention to use : Is there a clear intention?

The MTGOX experiment has triggered debates to mark “Bitcoin”, and you still have to see the company leave the movement. One thing, however, is sure to have significant consequences for users, investors and a wider cryptocurrency community.

In summary, trying MTGOX to put “Bitcoin” on the market, raises questions about the market identity, competition and dynamics of the cryptocurrency space. As with all brand applications, you do not yet have to see that MTGOX will eventually leave the movement or challenges from other stock exchanges that do not use the brand.

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