Steem Fork Faces Legal Threat From Mining Firm Over ‘Hive’ Name

Steem Fork Faces Legal Threat From Mining Firm Over ‘Hive’ Name

The group, Hive.io, dubbed the new blockchain Hive, and it materialized via a hard fork of Steem last week. However, in choosing the Hive moniker, the project appears to have stepped on the corporate toes of a blockchain firm branded with the same name.

HIVE Blockchain Technologies Ltd., a cryptocurrencies mining company, located and registered in Vancouver, Canadian published a legal notice Monday, which states that it had sent a cease-and-desist letter from its legal representatives to the administration of Hive.io. The notice informed the administrator of the new Hive Blockchain that; “...the new blockchain is tapping into its investment in building "goodwill" in the industry. The quote from the article ;

"In response to multiple shareholder inquiries understandably confused by this Blockchain’s announcement, HIVE clarifies that it has no association with this Blockchain," the mining firm writes. "HIVE believes this Blockchain’s use of 'Hive' and 'Hive Blockchain' is, intentionally or otherwise, confusing with the Company’s brand, which it has used globally over the Internet in relation to its connection with blockchain related goods and services including cryptocurrency."
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This is an interesting development and I look forward to learning more as this story unfolds.

Article written by Daniel Palmer a contributor to CoinDesk News Website
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