Is Current the Victim of Patent Infringement?
What’s interesting is that Facebook is allegedly using the same San Francisco-based design firm that Current employs. The result is what appears to be two very similar logos. The Current logo is a blue, purple and pink circle surrounding a purple, wavy line divided into three segments. The Facebook Calibra logo is virtually the same, only this time, the line and the circle are a purplish-blue, and the line is not divided.
In addition, the logos feature the names of each respective company below. They are virtually exact matches – just different coloring.
Founder Stuart Sopp, a former Wall Street trader turned banking CEO, took to Twitter and messaged the Winklevoss Twins, the founders of the Gemini Exchange in New York. Both men allege that fellow Harvard graduate Mark Zuckerberg and CEO of Facebook stole their idea for the social media platform while they were all still college students.
The message simply read:
Now I know how you guys felt.
In an interview with CNBC, Sopp discusses his anger over the use of the logo but appears to blame the design company more than Facebook itself. He alleges that the company simply utilized the logo it created for Current without much hesitation or thought, stating:
We put six months of hard work into this with that design firm, which they basically reused for Facebook without changing much.
However, he does claim that Facebook is partially at fault for not looking deeper into the matter while boasting the resources to do so. He states:
Facebook is a big company that should have done their due diligence on this… This is a funny way to try and create trust in a new global financial system – by ripping off another fintech firm. Facebook has all the money and resources in the world. If they truly wanted to make banking more inclusive, they should’ve come up with their own ideas and branding like we have.
Two Companies Now Go Head-to-Head
Sopp initially found out about the “logo fiasco” while attending a digital finance conference in New York. He saw the logo and reacted in shock, thinking he was potentially being pranked. Upon discovering that the image was not a joke, he began getting in touch with attorneys to see if he had a patent infringement case.
It is unclear if Current’s situation will find its way to court, though Facebook is a rather large company by comparison. At the same time, the company says it began its financial journey with similar intentions: to provide banking resources to the masses and give financial independence back to the people.