Craig Wright makes settlement offer in COPA case to ‘give up’ some rights Craig Wright makes settlement offer in COPA case to ‘give up’ some rights
Wright's proposed settlement waives database claims on the core Bitcoin network and Bitcoin Cash.
2 min read
Updated: Jan. 25, 2024 at 11:45 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Dr. Craig Wright, the controversial Australian computer scientist, has backtracked from his impending legal battle with the Crypto Open Patent Alliance (COPA) by proposing a settlement offer for the trial.
According to a Jan. 24 statement, Wright’s proposed offer includes the relinquishment of database rights and copyright claims on “Bitcoin Core (BTC), Bitcoin Cash (BCH), and ABC Bitcoin (ABC).”
“This settlement offer preserves my objective of maintaining the integrity of the Bitcoin system as it was initially developed, while limiting (for all parties) the needless expense of a lengthy High Court trial, which would take our collective focus away from supporting, adopting and advancing digital currency technologies,” Wright wrote.
Wright’s proposal
Wright also stated that he intends to grant an ‘irrevocable license’ to entities operating these databases, fostering open commercialization of technologies and supporting intellectual property rights.
He demanded that COPA publicly recognizes that that the digital assets now serve distinct purposes not initially envisioned by Satoshi Nakamoto, the pseudonymous developer of BTC. The scientist also urged the group to refrain from asserting representation of the original Bitcoin vision and instead publicly acknowledge the intended purpose of Bitcoin was facilitating “small casual transactions.”
Further, the proposal stipulated that COPA members should be barred from creating a new Bitcoin database through copying, forking, or any similar means. They are also expected to actively prevent third parties from undertaking such actions.
Notably, the controversial figure proposes that all involved parties contribute a charitable donation to Burnside, a Uniting Church in Australia. This donation should cover the anticipated costs of pursuing the claims until the trial’s conclusion or until cost awards are granted in their favor.
“The focus of my various litigations to date has never been on revealing my pseudonymous identity as Satoshi Nakamoto, but on mandating that Bitcoin remains faithful to its central principles,” Wright concluded.
Wright gave a seven-day timeframe for the involved parties to accept the terms.
Wright vs. COPA
The legal conflict between Wright and COPA stems from the organization’s efforts to challenge Wright’s self-proclaimed identity as Satoshi Nakamoto.
COPA, a prominent open-source development entity with backing from industry leaders like Coinbase, Meta, and Block, consistently opposed Wright’s assertions. The organization was preparing for a trial scheduled to commence on Feb. 5.
Since 2016, Wright has initiated multiple legal actions, alleging copyright infringement against websites that host the Bitcoin whitepaper. These claims are grounded in his assertion of being Nakamoto.
However, Wright has failed to provide any significant evidence to back his claims that he is the pseudonymous developer of the top cryptocurrency.
Update Jan. 25:
COPA issued the following statement regarding the settlement offer,
“Hard pass on that “settlement.”
Just like Craig Wright forges documents and doesn’t quite tell the truth, his description of the settlement offer isn’t quite accurate either – it comes with loopholes that would allow him to sue people all over again.”
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin Cash
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Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Bitcoin SV
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Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Meta
Meta (formerly known as Facebook, Inc.) is an American online social media and social networking service company based in Menlo Park, California.
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MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Craig Steven Wright, commonly referred to as CSW, is an Australian computer scientist and business professional who has been at the center of controversy within the cryptocurrency community.
