‘Hive’ in Court Over Name Dispute – Product Release & Updates – Altcoin Buzz

hive in court over its name

Canadian mining firm, “Hive”, has issued a cease and desist order to recently hard forked, “Hive”, due to usage of its name.

Hive came to existence recently after hard forking from Steem. It happened as an aftermath of disagreements over the leadership of Tron CEO, Justin Sun, who acquired the firm early this year.

The mining firm, Hive Blockchain Technologies Limited, launched in 2013, alleged the recently forked blockchain firm of committing a corporate offense by poaching its name.

About the hardfork

Following the acquisition of the network by Sun, many Steem developers expressed their displeasure. On March 18, they disclosed plans to hardfork from Steem, creating a new blockchain that they named Hive.

The hard fork took place on March 20 successfully. Plans to use proposed Hive tokens to reproduce Steem tokens are also in motion.

The new “Hive” benefits from its goodwill

Problems started to emerge when the Canadian mining firm disclosed that the new firm was infringing on its right by looking to benefit from its good name.

The mining firm also disclosed that several of its investors had got in touch to confirm if they had any affiliation with the newly launched blockchain firm. It added that making use of the name “Hive” was triggering brand confusion.

The mining firm stipulated that they were only interested in upholding their good name and eliminating any possible cause of identity damage. It expressed the opinion that the Steem hardfork, “Hive”, was looking to benefit from its goodwill in the crypto space.

What Hive Blockchain had to say

Hive’s provisional executive chairman, Frank Holmes, noted that the blockchain firm had invested a lot into developing the brand. They had also
Source…

About the author