Home General News ‘Cardano [ADA] was founded as a gift to the world’ – says Michael Parson, the Chairman

‘Cardano [ADA] was founded as a gift to the world’ – says Michael Parson, the Chairman

by Lionel Pereira

Michael Parson, the Chairman of Cardano Foundation provided a clarity about public representations and the use of Cardano project related trademarks.

Cardano [ADA] is declining at the rate of 20.96% in the past 7 days and the market capitalization has fallen as low as $6.5 billion.

Cardano chose to do this now as their partners are looking for clear direction on how to approach public statements, also, the Cardano community regularly approaches them for guidance and advice in this area.

The Cardano community is a highly motivated and fast-growing group comprised of developers, technologists, original and new purchasers, business partners and ‘philosophically aligned’ advocates. The company strives to assist them in every way they can and support the growth of the project in the best possible manner.

Cardano Foundation was founded with five objectives, one of these objectives is to Protect, Enhance and Evolve the Cardano Ecosystem. The firm has sought to deliver on this objective by protecting the Cardano brand and trademark for the benefit of the project.

Since its inception, Cardano Foundation has proactively secured all relevant Cardano related trademarks on behalf of the project, including the Cardano name, exploding star logo and ADA symbol. These assets were not only secured in the Foundations home country, Switzerland but in many other global target territories. Further information about their rights will be provided in their policy and can be made available on request.

Cardano Foundation will also seek the right balance on how and when to act to withdraw trademark rights in certain cases where the project could be harmed for the rest of the community.

As the project has gone from strength to strength, global awareness has skyrocketed. There are now widespread references and representations about the Cardano name and logo in the public domain and this will continue to gain momentum.

This increasing global recognition of the project has become increasingly important for Cardano Foundation to issue a fair use of trademarks policy. In doing so they seek to nurture a rich and robust environment for participation and innovation.

As a natural result of this success, they are being asked questions by Cardano community as to exactly what representations can be made using Cardano and associated branding. These are not always straightforward questions to answer at this time.

Cardano must now seek to achieve the right balance between the ‘old trademark world’ and those of the emerging blockchain world, with its unique challenges for a decentralized and open source environment. What they can do now is state their general philosophy which they hope their community will align with.

Cardano Foundation Chairman, Michael Parson says:

“Cardano was founded as a gift to the world. To empower the individual, rather than improve the status-quo towards existing centres of power and wealth. Public blockchain technology has the potential to deliver individuals the choice to trade with who they want, when they want, how they want. It is these fundamental attributes that underpin the Cardano project and we believe will kickstart a peer-to-peer economic revolution.”

He added:

“At the same time, Cardano must stand for transparency and prevent fraud, misrepresentation and uncertainty. To protect those same individuals and of course to create a fair and open environment for commercial partners who choose to innovate on our platform.”

In practical terms, the above means that they are drafting a ‘fair use trademark policy’. They are working to create a policy that strikes the right balance between protecting the brand and the investment made in that brand, protection against misrepresentation and at the same time does not inhibit growth, allowing the community to build, nurture and innovate.

They also tend to ensure that the spirit of this fair use trademark policy will be aligned with the ethos of an open source project and individual empowerment.

Cardano has asked for a little more patience to get this right and have promised to keep the community informed at regular intervals with their progress on this important matter.

Cardano has planned to work in close collaboration with their partners IOHK and Emurgo on this initiative, ensuring due care and attention to commercial aspects and full consideration is given to their ability to operate effectively. This will help ensure a well-rounded policy is produced.

Cardano is proving to be an even more exciting journey and the company looks forward to continuing to work with their partners and support the community.

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