It appears someone in South Korea is trying to take over the “Samsung Coin” trademark. This might be in bid to take advantage of Samsung’s blockchain efforts.
On July 10, an application to register the trademark in both English and Korean was submitted by an individual called Kim Nam-jin; the Korean Intellectual Property Office (KIPO) filings reveal.
The filing was made under categories related to computer programs, such as “downloadable electronic money computer program,” “electronic money card,” “electronic encryption device,” and “IC card with electronic money function.” A Samsung representative had responded to a news site’s question that the tech giant was not behind the application. “We don’t work this way,” the rep said.
The trademark that was filed was not directed to either of blockchain or cryptocurrency, but Samsung is currently developing its own blockchain using ethereum tech. Building a blockchain most likely implies they will issue a native currency ‘Samsung Coin’. Bagging their trademark would mean easy popularity for the company that gains right over it. The “Samsung Coin” filing was incorrectly reported initially as Samsung applying for the trademark, by a few news sources.
Kim Nam-jin has previously tried to lodge trademarks relating to cryptocurrency work by other major technology companies, this is possibly why they are taking a shot with Samsung’s name this time. In addition to that, he also filed an application on July 10 seeking to trademark “ThinQ Wallet.” as the KIPO database shows. On July 2 however, LG Electronics, also based in South Korea, had already filed trademark applications both in South Korea and in the U.S. for “ThinQ Wallet.” The wallet would provide a variety of mobile services including “software platform for blockchain” and “mobile electronic wallet for cryptocurrency.” according to the application details.
Credits- Shinjae Yoo, Wolfie ZhaoJOIN OUR COMMUNITY