In a recent blog post by the Zcash Foundation, Joshua Cincinnati, the Executive Director of the foundation, expressed his concerns and disappointment over Electric Coin Company allegedly breaking its promise to share control over the Zcash Trademark.
In the past, Electric Coin Company had publicly stated its intent to sign over its full ownership of the Zcash trademark in a legal agreement, where either party, Electric Coin Company or the Zcash Foundation would have the ability to prevent the use of the brand unilaterally.
In response to Electric Coin Company’s delay of the trademark transfer, the Zcash Foundation has made it clear that it will postpone any decision-making regarding NU4, Zcash’s next network upgrade. This decision comes at a crucial time as the Zcash community is in the process of deciding whether a renewed development fund for Electric Coin Company will be included in the NU4 upgrade.
Matthew Green, a board member of the Zcash Foundation, expressed his concerns over the timing of Electric Coin Company’s recent actions, “The legal hammer this gives ECC really makes it much harder to have an open debate about how to construct such a fund, and frankly, makes me much more pessimistic on the idea of a dev fund in the first place.”
In response to Zcash Foundation’s blog post, Zooko Wilcox, CEO of Electric Coin Company, states that his firm remains committed to “decentralizing” management of the trademark. The firm also suggested that an additional party be added to the trademark agreement and that no member of the three proposed parties would use its veto power to override any decision made by community members.