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Coinbase set to get a new brand approval for "BUIDL" and submitted a request to get approval for the "Build" brand of miss-spell word as "BUIDL". The term is already widely used in the community of cryptocurrencies and the community is not very happy with it.
Why the "BUIDL" brand? The cryptographic community is not happy
The request was presented on 02 October 2018 to the trademark commissioner. The application for the "BUIDL" brand was presented by the exchange of the California cryptocurrency, Coinbase, Inc., which concerned the "Software as a service (SAAS)" services. The official announcement states that SAAS has used non-downloadable virtual currency and software, but helps to negotiate, track, read and use block-token technology tokens.
We read as;
International Class 042: Software as a service (SAAS) services with software for transactions that use virtual currency, ie software for management, purchase, sale, storage, transaction, exchange, sending and receiving virtual currency; Temporary use of non-downloadable computer software for accessing, reading, monitoring, trading and using tokens via blockchain technology
With a new mandate launched on the market, many experts and enthusiasts of cryptography replied their opinions. For example;
Jameson Lopp mocked this tweeting term;
It seems @coinbase is trying to create a "BUIDL" brand https://t.co/X8qusFLQbY pic.twitter.com/vmqjVnOcYO
– Jameson Lopp (@lopp) 6 December 2018
While the binance CEO, Changpeng Zhao is not in agreement with the deposit. He took twitter stating that the term is already widely used in the community,
recursive tweet again. "pissed off" = lawyers ready to go.
I also think of presenting a term like #BUIDL, which is already widely used in the community, hurts its reputation of how much it does not help. Honest advice https://t.co/aFLaT3q8Xh
– CZ Binance (@cz_binance) December 7, 2018
The term is not new in any case, it has already been used by many as August 16, 2017.
Very important lesson, in general.
Show, do not say.
Hodl and Buidl. https://t.co/DlXtmgxqPr
– Michael Goldstein (@bitstein) August 15th 2017
So what do you think of the application submitted for approval?
Summary
Item name
Coinbase Exchange launches the new Crypto Jargon BUIDL and not Build
Description
HODL, FOMO, FUD and other comprehensive cryptographic jargons were not enough, Coinbase was getting ready to get a new mark of approval for the term called "BUIDL". As a consequence, the main exchange of cryptocurrency, Coinbase has submitted the request to obtain approval for the "Build" brand of miss-spell word as "BUIDL".
Author
tabassum
Publisher name
Coingape
Publisher logo
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.
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