Back in June, Live Bitcoin News reported that an online banking firm, Current, wasnâ€™t very happy with Facebook or Libra, claiming that the project had potentially stolen its logo. Now, that anger has turned into a full-fledged lawsuit.
Current Takes Facebook to Court
Current has filed suit against Facebook in a New York district court for allegedly stealing the logo of its company. When looking at the two examples, one can see that the bankâ€™s properties may have been stolen. The logos of both companies feature large circles with a squiggly line in the middle and the name of the venture below. The only difference is that the coloring featured in the Libra logo is purple, whereas the coloring for Current is blue and pink. Otherwise, theyâ€™re pretty much the same.
Libra is the product of one of the biggest companies in the world, so did Facebook really try to rip off the logo of another enterprise, convinced it was going to get away with such a design? Or is this all just a big, strange coincidence?
Well, Libra has been accused of stealing in the past, so naturally a situation like this doesnâ€™t look very good for its executives. Last July, Fellows of MIT that had written a whitepaper for a new global cryptocurrency accused the company of lifting the structural design for Libra from their whitepaper. The currency was asset-backed (just like Libra), and was a “supra-national digital coin” (just like Libra).
And letâ€™s not forget that Facebook, itself, comes from someone who outright stole the ideas of two other entrepreneurs. Originally conceived by the Winklevoss Twins of Gemini fame, Facebook was originally intended as a communication platform between Harvard students when the Twins were attending university, but it was coder Mark Zuckerberg that ultimately made off with the idea and turned it into the global platform that it is today.
So, itâ€™s not out of the question to assume that Facebook did, indeed, try to make off with another companyâ€™s logo. In addition, both images - for Libra and Current - come from the same design firm in San Francisco, so itâ€™s not strange to assume that perhaps the person working on the logo somehow caught wind of Currentâ€™s imagery and decided to replicate what they had seen.
Losing Out All Over the Place
Currentâ€™s CEO Stuart Sopp expressed his anger of having his companyâ€™s logo allegedly taken. He stated:
Facebook has all the money and resources in the world. If they truly wanted to make banking more inclusive, or fair, they shouldâ€™ve come up with their own ideas and branding like we have.
Libra seems to be rubbing everyone the wrong way as of late. Following PayPalâ€™s leave from the Libra Association, the project has also lost support from eBay, Stripe, Mastercard and Visa.
The post Current Takes Facebook to Court Over Logo Similarities appeared first on Live Bitcoin News.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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