Matter Labs Backtracks on ZK Trademark Filings, Establishes Foundation for Fair Use
CryptoNewsTerminal Staff01 Jun, 2024
Matter Labs Backtracks on ZK Trademark Filings, Establishes Foundation for Fair Use
Matter Labs, the developer behind the ZkSync scaling solution, has reversed course on its controversial trademark filings for the term "ZK". The company had previously filed for trademarks in nine countries, sparking criticism from the cryptocurrency community. In a statement on Twitter, Matter Labs announced that it would no longer pursue further trademark filings and would establish a foundation to own the ZK trademark. The foundation will grant a royalty-free license to anyone who wants to use the trademark, effectively allowing for free and open use. This move is a significant concession by Matter Labs and is likely to appease the concerns of the cryptocurrency community. It also demonstrates the company's commitment to open source and decentralized principles.
