Ripple has been involved in a lawsuit

[Michar1 1693]

Following a court document in Australia, in the district of New South Wales, Ripple has been called to trial for a lawsuit in which it is accused of using an already registered name for its PayID product.

 

For these trademark and copyright reasons, Ripple will have to attend the first hearing tomorrow.

The lawsuit involves Australian NPP (New Payments Platform), a company that deals with payments in Australia and is used by various banks to speed up payments within the country. This feature, in fact, is called PayID and it was launched in February 2018.

 

Whereas, Ripple launched its version of PayID in June of this year and this conflicts with the existing company.

 

NPP and the PayID system
For those who do not know PayID (Payment Identifier), it is an open source system, so anyone can use it and the source is open to everyone.

 

This system allows you to connect any payment, such as bank transfers, cryptocurrencies, credit or debit cards or even payments through social applications.

Note that this system has also been integrated into the famous unstoppable domains, in order to take advantage of traditional payments on decentralized domains.

Another interesting detail is that the respective lawyers are well-known names, as NPP is represented by Clayton Utz, one of the six largest law firms in Australia, while Ripple relied on the expertise of the Kilpatrick Townsend Attorneys firm.

 

Edited November 15, 2020 by Michar1

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