In a letter addressed to all parties on Wednesday, the self-declared creator of Bitcoin, Craig Wright, has offered to settle the case. The man who in the past infamously credited himself with Bitcoin creation issued an offer to settle the pending case to the Crypto Open Patent Alliance (COPA) before the February 5 trial date.
Wright portrays an effort to avoid the trial that starts in less than a fortnight, where the plaintiffs allege a violation of intellectual property (IP) rights regarding Bitcoin creation. The parties leveled the charges, seeking to pile legal pressure on Craig Wright to ascertain whether the pseudonymous individual behind Bitcoin creation – Satoshi Nakamoto.
Wright’s Settlement Offer Seeks Averting Lengthy and Costly Trial
The settlement offer comes in the background of a ruling by UK high court Judge James Mellor directing Wright in a December ruling to offer documented proof that he created Bitcoin. The judge mandated Wright to furnish the court with printed copies of the 95 documents traced back to 2007.
Wright’s attorneys indicate that the documents are stored within the USB drive and would facilitate proving his Nakamoto identity. Wright confessed that the February trial allowed him to face individuals and corporate entities within London’s High Court.
Wright promised to uphold the intellectual property rights in Bitcoin creation. He clarified that the multiple litigations do not constitute an effort to reveal Satoshi Nakamoto’s pseudonymous identity. Instead, the litigations target ensuring that Bitcoin retains its central principles.
Wright reiterated the Bitcoin White Paper’s role as the basis for other cryptos that bear the name of Bitcoin, including the Bitcoin SV and Cash.
The Wright links to the Bitcoin creation traces to 2021 when Jack Dorsey supported COPA’s move to file charges against Wright. The lawsuit seeks to bar Wright from copyrighting the White Paper constituting the foundation of the Bitcoin blockchain.
Wright Portrays Sincerity in Offer to COPA
Wright indicated he seeks to demonstrate sincerity in the offer tabled to COPA by waiving the database rights. Also, Wright offers to waive the copyrights linked to BTC, BCH, and ABC databases.
Wright proposes to provide an irrevocable license availed in perpetuity to all parties that oppose his claim to the White Paper. He urges the parties to collectively control, operate, and own the databases to encourage open commercialization of the technologies.
Wright’s offer challenges the parties to uphold competitive and fair market principles without exploiting intellectual property rights. He clarifies his intention for the offer to encourage fair competition parallel with the BSV.
Wright indicated that the parties will have seven days to agree to the settlement open till January 31. He indicates that failure by the parties to agree will ultimately see the matter progress to trial.
Wright indicates that the settlement offers safeguards to sustain integrity within the Bitcoin network. Also, the offer will save the parties from the needless expenditure of the lengthy High Court trial. Instead, he urges developers to focus on Bitcoin.
Wright Proposes Terminating Legal Claims in Bitcoin Creation
Wright offers to terminate all legal claims enshrined in the lawsuit, where each party will bear the legal costs. The self-described Bitcoin inventor urged the parties to the case to consider donating their allocated spending to benefit the Australian charity Burnside, which is involved in helping single mothers.
Wright pledged donations of the funds he will receive towards charity aligned with his commitment not to reap financial benefits from the trial.
Wright’s settlement offer requires all parties to agree against using or allowing affiliates to exploit BSV, ABC, and BTC databases to copy and replicate the Bitcoin database. Also, Wright asks the parties to cease running media campaigns against him.
Wright believes that the terms stipulated in the offer benefit the entire industry. He reiterates the intention to leverage the settlement to draw a fresh start for Bitcoin.
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