In South Korea, somebody appears to wish to make the most of Samsung's efforts to dam blockchains by taking the "Samsung Coin" model.
In response to paperwork filed with the Korean Mental Property Workplace (KIPO), a trademark registration utility in English and Korean was filed on July 10 by an individual named Kim Nam -jin.
The submitting was made in classes regarding pc applications, resembling "downloadable pc program," digital cash card "," digital encryption system "and" sensible card with digital cash perform ".
Nonetheless, contacted, a consultant of Samsung informed CoinDesk that the know-how large was not behind the applying.
"We don’t work that manner," they stated.
Though the trademark registration utility doesn’t specify whether or not there’s a blockchain or a cryptocurrency, the submitting follows the earlier report of CoinDesk in accordance with which Samsung was growing its personal blockchain with Ethereum tech and will presumably challenge its personal cryptocurrency, presumably known as "Samsung Coin". "
In a doable clue as to their motivation for submitting, the identical particular person has already tried to file marks regarding cryptocurrency work executed by different main know-how firms.
The KIPO database exhibits that Kim Nam-jin additionally filed on July 10 an utility for registration of the trademark "ThinQ Pockets".
Nonetheless, on July 2, LG Electronics, additionally based mostly in South Korea, filed trademark functions in each South Korea and the US for the "ThinQ Pockets".
Based mostly on the small print of the LG utility, the portfolio would offer a wide range of cell companies, together with a "software program platform for the chain of channels" and a "cell digital pockets for cryptocurrency ".
The "Samsung Coin" repository was initially lined by some information sources that wrongly indicated that Samsung was asking for the trademark.
Shinjae Yoo from Korea's CornerDesk helped write stories.
Seungjai Min, head of the Samsung SDS blockchain analysis group, through the CoinDesk Archive