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Is Mark Zuckerberg changing his crypto course?

 


Token yes, blockchain no: This is how you could describe the previous philosophy of the social media giant Meta. Now, however, the CEO is turning in a different direction. Did this spark Zuckerberg's open-source spirit or just marketing purgatory?


As the newest member of the Crypto Open Patent Alliance (COPA), social media giant Meta is now refraining from enforcing its crypto patents. This means that “Meta has committed not to enforce its core cryptocurrency patents against anyone,” according to a COPA press release. This is intended to make the patents “freely available” to everyone. The exception to this is an assertion by Meta for "defensive reasons."


The company behind Facebook and Co. should not only be a member of the association, but also adorn the board of COPA alongside Block and Coinbase . "Meta is proud to join the Crypto Open Patent Alliance to make our crypto patents available to everyone so we can all shape that future together," Zuckerberg said via Facebook.



That's what Jack Dorsey thinks of Diem


Zuckerberg's supposed change of heart toward open source comes shortly after Facebook broke away from its stablecoin project Diem . Silvergate Capital , a California-based bank, is now the new owner of the Diem Association . In the clinch with the regulators, Meta raised the white flag in terms of stable coins. However, the associated crypto wallet Novi remains in the social media platform's portfolio.


In the recent Bitcoin for Corporations 2022 online conference , organized by Michael Saylor's MicroStrategy , Twitter founder and Block CEO Jack Dorsey also spoke about Diem. He believes Meta is "probably working on the project for the right reasons," while there are also reasons that suggest it's "trying to get more and more people into the Facebook ecosystem."


"And they did that instead of using an open protocol like Bitcoin," Dorsey opined. "Hopefully they learned a lot, but I think it was a lot of wasted time and effort." Dorsey explained that during this time they could have worked to “make bitcoin accessible to more people around the world”. According to the Block CEO, this would also benefit Meta's product range.


"We have to be open about the fact that we don't have to own the thing," Dorsey continued. “You don't have to own it to benefit from it”.


Change of direction or marketing battle plan?

So, by releasing its patents, does Meta move away from previous ownership claims of an internet cryptocurrency and the Metaverse?


Patent availability is one thing. Having the resources to actually implement such ideas is another. Accordingly, the social media giant should know exactly what it is getting into with COPA membership. Smaller projects that want to implement decentralization in the digital world probably do not pose a major threat.



On Facebook, Zuckerberg stated that the "Metaverse should be more interoperable and open than any computing platform before it." It remains to be seen whether the 37-year-old is serious or just speaking out of a PR campaign. With pseudo-decentralization as a possible marketing strategy, however, Meta continues to pour grist on the mills of its peers: companies that want to transfer platform capitalism to the virtual parallel world instead of eradicating it.

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