Twitter founder's bitcoin developer subsidy fund ``Bitcoin Legal Defense Fund'' is working hard to protect developers from ``tens of trillions of yen lawsuits by self-proclaimed bitcoin inventors''

In January 2022, Jack Dorsey, known as the founder of Twitter, established the Bitcoin Legal Defense Fund, a non-profit fund to protect Bitcoin developers from lawsuits. The Bitcoin Legal Defense Fund has been involved in two lawsuits at the time of writing.

Bitcoin Legal Defense Fund – Legal Defense By the Bitcoin Community, for the Bitcoin Community

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Jack Dorsey is known for showing great interest in Bitcoin, saying that ' Bitcoin will become the world's single currency within 10 years ' and announcing the development of a decentralized Bitcoin exchange. I'm here. In 2022, Mr. Dorsey established the `` Bitcoin Legal Defense Fund '', a non-profit fund to protect Bitcoin developers from lawsuits.

Twitter founder Jack Dorsey launches 'Bitcoin Legal Defense Fund' to protect virtual currency and bitcoin developers from litigation crisis - GIGAZINE

The Bitcoin Legal Defense Fund is involved in two lawsuits filed by the self-proclaimed inventor of Bitcoin at the time of writing. Details of each lawsuit are below.

A lawsuit against 12 Bitcoin developers by a self-proclaimed Bitcoin inventor
Bitcoin is a virtual currency invented by an anonymous person named `` Satoshi Nakamoto '', but the identity of Satoshi Nakamoto has not been clarified even at the time of writing the article. However, there are several people who claim to be Satoshi Nakamoto and who are suspected of being who they say they are. Mr. Craig Wright, an Australian businessman, is also a person suggested by multiple evidences that he is Satoshi Nakamoto's identity , but Mr. Wright rewrites the code of the virtual currency bitcoin SV derived from bitcoin. I'm suing 15 developers for asking.

Self-proclaimed bitcoin creator sues for lost virtual currency access rights, court orders plaintiff to pay legal fees in case of loss-GIGAZINE

Mr. Craig claims that he had virtual currency worth billions of dollars (hundreds of billions of yen), but he could not withdraw it because his private key was stolen. On top of that, the developer is requested to introduce a backdoor that allows Craig to operate the virtual currency system infrastructure. In addition, we are seeking damages exceeding $ 4 billion (about 550 billion yen) from the developer.

On the other hand, the Bitcoin Legal Defense Fund pointed out that Mr. Craig's ``private key operation permission request'' threatens the Bitcoin principle that ``developers will not overwrite the private key,'' and the developer in the lawsuit We are providing assistance to In addition, the Bitcoin Legal Defense Fund said that if the court rules in Craig's favor, given that the core of Bitcoin is published under the MIT license , which includes a clause that states it 'takes no responsibility'. All open source projects may be legally obligated to provide user remedies.'

A lawsuit in which a self-proclaimed inventor of bitcoin claims the copyright of a bitcoin paper
All Bitcoin-related virtual currencies are developed based on the paper 'Bitcoin: A Peer-to-Peer Electronic Cash System' written by Satoshi Nakamoto. Mr. Craig, who claims to be Satoshi Nakamoto, claims to own the copyright to the paper, ``stopping development that is progressing without paying a license fee,'' and ``numbers for past copyright infringements.'' We are suing for damages of 100 billion pounds (tens of trillion yen).

The Bitcoin Legal Defense Fund said, 'If a judgment is found in Mr. Craig's favor, Mr. Craig will be given control of the Bitcoin network, and Mr. Craig will not be able to change the terms of use of the Bitcoin network or control the client software. ``Craig's efforts could bring uncertainty to Bitcoin and put Bitcoin transactions in a difficult situation,'' he said, to protect the Bitcoin network. We are committed to providing legal support to

The two lawsuits are still ongoing at the time of article creation.

in Note, Posted by log1o_hf