Electric Coin Company (ECC) – the firm behind the introduction of the privacy-focused digital coin Zcash (ZEC) 3 years ago – will reportedly share the ownership of the Zcash trademark with the Zcash Foundation.
Specifically, on November 6, both parties have placed their signatures on an agreement, which states that the Zcash Foundation will be in charge of handling any financial cost relating to the protection and assignment of the trademark.
ECC has shared the crucial role the trademark agreement plays, as it will ensure protection and seperation, of one crypto coin from the other. The company clarified that Zcash’s trademark will help the community avoid scamming acts, as well as equip Zcash’s blockchain governance with sufficient legal authority.
Per ECC, the donation of the trademark helped it hit two birds with one stone – showing honour and actions taken regarding comments from the Zcash community, along with continuing the decentralization process of the organization.
The Zcash Foundation revealed that interoperability with standard legal and business frameworks will be upheld with the finalization of the agreement.