Alibabacoin has been one of the more confusing projects in the digital currency space. Although it has no ties to Alibaba, it is seemingly doing quite well. A recent lawsuit filed by Alibaba Group Holding has hit a dead end. The judge ruled there is no ground for a trademark infringement in New York. Instead, they should file a lawsuit in China, where Alibababacoin isn’t even active.
The entire Alibabacoin debacle has been pretty interesting to keep an eye on.This New York-based project is named after one of Asia’s most famous e-commerce giants. While there is no correlation between the two, the name isn’t chosen randomly either. It is only normal the Alibaba Group filed a lawsuit against this digital currency’s team to prevent its name from being used any further.
Alibabacoin Remains a Problematic Project
Unfortunately, that process has hit a major roadblock. US District Judge Paul Oetken deemed the state has no jurisdiction in this regard. Any trademark infringement needs to be filed in China, where the Group is based. The digital currency, however, is primarily active in the state of New York, by the look of things. It is evident filing a new lawsuit in China won’t serve any real purpose in this regard.
This confusion is only compounded because the currency’s team does nothing to alleviate any concerns. Additionally, they organized an ICO, which puts the e-commerce giant in a bad spotlight as well. Solving this issue can easily be done with some professional communication, yet the digital currency’s team has no intention of doing so. In fact, they want to get the coin listed on US exchanges. It will be interesting to see how that plan will play out in the coming weeks and months.
For now, we have to wait and see how Alibaba will move forward It is unlikely they will leave this matter be as long as the digital currency exists. It is evident a name change is in order as of right now, but that will not be the most likely outcome. Copying existing brand names will always result in big problems down the line. By using more honest methods, such problems can be avoided with relative ease.
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