The Zcash Foundation has initiated trademark enforcement against Zcash Strategy, a small digital asset treasury entity, over its domain name, zcashstrategy.com. This action has created a divide within the ZEC community, with some viewing it as necessary for scam protection while others express concerns about centralization.
Between December 2 and 3, Zcash Strategy shared a screenshot of an email from the Zcash Foundation, which confirmed a cease and desist order requesting a voluntary transfer of the domain to avoid escalation to a Uniform Domain-Name Dispute Resolution Policy (UDRP) panel. In a subsequent comment, Zcash Strategy expressed its disappointment, while the Zcash Foundation stated that it had received reports from six community members about a potential trademark violation.
In addition, the Foundation noted that the post from Zcash Strategy was considered an official request to use the Zcash trademarks, which is now under review. The controversy surrounding this enforcement action has reignited discussions on the Zcash Foundation”s trademark policy.
In August 2024, Josh Swihart, CEO of Electric Coin Co. (ECC), terminated the Trademark Donation and License Agreement established in November 2019. Swihart articulated requests for the Zcash Foundation regarding the trademark”s use, emphasizing that it should be used only to protect against misuse by scammers, rather than to influence the protocol”s direction.
The Zcash Foundation has not yet responded to inquiries from Coinspeaker regarding this matter. Their trademark policies allow independent projects to utilize the “Zcash” name and logos, provided they include disclaimers indicating their independence from the Foundation. Safety First, a pro-Zcash supporter, shared a thread discussing the rationale behind the Foundation”s actions.
Coinspeaker verified that Zcash Strategy”s website included a legal disclaimer stating it is an independent organization within the Zcash ecosystem, clarifying that it is not affiliated with or controlled by the Zcash Foundation. However, it remains uncertain whether this disclaimer was added before or after the exchange of emails and public posts.
Critics have pointed out that targeting a small account with fewer than 300 followers is an unwise move, especially as ZEC has seen a significant decrease in value, down 50% from its recent peak. Others in the community have rallied in support of the Foundation”s stance, underscoring the importance of protecting the ecosystem from potential scams.
The current price of ZEC stands at $374.3, reflecting a 9.9% volatility over the past 24 hours, with a market cap of $6.14 billion and a trading volume of $1.70 billion. This follows a period of impressive gains where ZEC saw an over 1,000% increase in just two months, fueled by heightened interest in privacy coins.
Coinspeaker remains committed to unbiased reporting. This article aims to provide accurate and timely information but should not be construed as financial or investment advice. As market dynamics can change swiftly, we urge readers to conduct their own research and consult professionals before making decisions based on this information.
Vini Barbosa has been actively covering the cryptocurrency sector since 2020, accumulating over 10,000 hours of research and writing in the field. With a strong belief in the transformative potential of blockchain technology, Barbosa focuses on topics related to decentralized finance, open-source software, and real-world applications.
