Cross post from reddit. https://www.reddit.com/r/Bitcoin/comments/4tpf9i/coinbase_patents/

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I think Blockstream have recently done the right thing by the Bitcoin community with their legally binding patent pledge.

https://www.blockstream.com/about/patent_pledge/
https://blockstream.com/2016/07/19/blockstream-defensive-patent-strategy/

Blockstream developers have been creating amazing open source technological innovations that will be free to use by anybody without fear of patent suits, as much as is legally possible.
 

I believe Bitcoiners should expect and demand similar legally binding pledges from all bitcoin companies.

Specifically Coinbase is one of the biggest Bitcoin companies that has recently applied for many patents such ‘hot bitcoin wallet’ and ‘an instant exchange’.

Obviously this is worrying, and while Coinbase said it intends to use them defensively this is not legally binding and just a promise that can be broken. All we have is their CEO’s word and if Coinbase gets acquired we do not even have that. https://medium.com/the-coinbase-blog/how-we-think-about-patents-at-coinbase-26d82b68e7db#.w3uxykl07

It would be great for Coinbase representatives to comment on when they will be making a similar pledge and if not, why.

Also if any readers agree please share on various social media, I hope this kind of pledge can be a standard in Bitcoin.