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Dr. Craig Wright proposes settlement in upcoming Bitcoin litigation in London’s High Court

Written by Wed 24 Jan 2024

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Dr. Craig Wright, who claims to be the creator of Bitcoin, has issued a settlement offer to members of the Crypto Open Patent Alliance (COPA) and other parties involved in upcoming intellectual property litigation.

Wright is scheduled to appear in London’s High Court in February to uphold his intellectual property rights in Bitcoin.

Wright stated that his litigations have not focused on revealing his identity as the pseudonymous Satoshi Nakamoto – often credited as the developer of Bitcoin.

Instead, his efforts have been geared towards ensuring that Bitcoin remains true to the principles outlined in the original Bitcoin White Paper.

The White Paper is widely recognised as the foundation of Bitcoin, describing a peer-to-peer electronic cash system designed for micro-payments directly between parties, without needing a financial intermediary.

In his ongoing legal battles, including the COPA litigation and various database-rights claims, Wright has made a non-negotiable offer to settle each case.

This offer aims to maintain the integrity of the original Bitcoin system while avoiding the costs and distractions of prolonged legal proceedings.

A key aspect of the proposal is to ensure that Bitcoin Core (BTC), Bitcoin Cash (BCH), and ABC Bitcoin (ABC) databases and assets can operate and compete fairly alongside BSV in the global market.

Wright’s proposes that he will waive his database rights and copyrights related to BTC, BCH, and ABC databases, offering an irrevocable license to the parties controlling these databases.

This gesture is meant to promote the open commercialisation of digital currency technologies in a fair and competitive market.

Wright expressed his belief that the settlement terms are non-controversial and beneficial for the entire industry. He views this offer as a chance to start anew in Bitcoin’s history, ensuring its success in various forms.

The parties involved in the litigation now have a seven-day window to accept this settlement, after which the case will proceed to trial if no agreement is reached.

Dr. Craig Wright’s team has issued this announcement, inviting all enquiries to their designated contact ([email protected]).

Detailed Terms of Dr. Craig Wright’s Settlement Offer in Bitcoin Litigation

Dr. Craig Wright has outlined the specific terms of his settlement offer in a series of ongoing claims involving key players in the cryptocurrency industry. The claims include:

  • Claim No. IL-2021-000019: Crypto Open Patent Alliance v Dr Craig Wright
  • Claim No. IL-2022-000035: Dr Craig Wright & Another v. Coinbase Global, Inc & Others
  • Claim No. IL-2022-000036: Dr Craig Wright & Another v. Payward & Others
  • Claim No. IL-2022-000069: Dr Craig Wright & Another v. BTC Core & Others (Identity Issue only)

In his proposal, Wright expresses his desire to refocus on personal and professional priorities, which include the development of blockchain technology, ensuring Bitcoin Satoshi Vision (BSV) plays a pivotal role in payment infrastructure, and spending more time with his family.

His offer aligns with a portion of the Crypto Open Patent Alliance’s Mission Statement, which focuses on the adoption and advancement of cryptocurrency technologies.

Dr. Craig Wright detailed the terms of his settlement offer in ongoing legal disputes involving various entities in the cryptocurrency industry. The offer encompasses the discontinuation of multiple claims and sets forth specific conditions for all involved parties.

  1. Discontinuation of Claims: Wright proposes that all claims be discontinued entirely, with parties filing a notice of discontinuance within 24 hours of accepting the offer.
  2. Costs and Charitable Donations: Each party will bear their own legal costs. Wright suggests that parties, including major cryptocurrency companies and Meta, should consider the benefits of discontinuing the proceedings against the costs of continuing. He proposes that each party makes a charitable donation to Burnside, a Uniting Church in Australia supporting single mothers, or another mutually agreed charity. Wright himself commits to donating £1 million, emphasising that no funds from these proceedings will benefit him financially.

Bitcoin Rights and Licenses

  1. Waiving Rights: Wright will not pursue any database rights or copyrights related to BTC, BCH, and ABC databases. He offers an irrevocable license to the opposing parties for the use and exploitation of these databases.
  2. Restrictions on New Developments: Both Wright and the opposing parties agree not to exploit the BTC, BCH, ABC, or BSV databases to create new Bitcoin databases. They commit to using their best efforts to ensure third parties also adhere to this agreement.

Media and Public Statement

  1. Media Campaigns: The opposing parties are required to cease any media campaigns against Wright.
  2. Public Acknowledgement: Entities must cease claiming they represent the original Bitcoin as envisioned by Wright as Satoshi Nakamoto. They must acknowledge the intended purpose of Bitcoin as a system for micropayments, transaction validation, and scalability.

Wright expresses his belief that these terms are non-controversial and beneficial for the industry, intending to provide a fresh start for Bitcoin’s future.

He anticipates a response from the involved parties, with the terms set to redefine the landscape of Bitcoin development and usage.

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Written by Wed 24 Jan 2024

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