Tor-Based, P2p Digital Currency Telephone Substitution Bitsquare Seeks To Rebrand Due To Legal Complications

Bitsquare, a peer-to-peer digital currency commutation that uses the TOR network to anonymize transactions, announced today it volition live on rebranding due to legal complications related to the refer itself. Mihail Mihalov, communications managing director at Bitsquare, said the difficulties arose when the Bitsquare evolution squad attempted to legally found the Bitsquare name, exactly learned that somebody else had already registered a like brand:

“The squad lately initiated build registration, exactly equally it oftentimes happens, the refer was opposed. It turns out, though to no one’s surprise, our projection is non the offset 1 to come upward up alongside the term “square” inward its name.”

“To avoid a lengthy together with expensive legal process, nosotros volition accept to uncovering about other name,” writes Mihalov.

Lead developer together with founder of the Bitsquare project, Manfred Karrer, has turned to the Bitsquare community for assist inward finding a suitable alternative. Karrer has offered a 0.5 bitcoin ($400 at electrical flow commutation rates) vantage to the political party responsible for composing the best name.

The rival volition run through Feb 20, 2016, together with the winner volition live on selected past times the Bitsquare team. So far, to a greater extent than than xxx unique entries accept been submitted on the official rival forum thread.

While the Bitsquare platform is 1 of the few bitcoin trading venues where participants are non required to undergo whatever KYC/AML checks to freely engage inward whatever type of fiat-to-bitcoin transaction, trading activity on Bitsquare has been subdued for close of 2016.

However, turnover picked upward inward the offset calendar week of 2017 inward Europe, Switzerland together with the United Kingdom, according to information on Coin.dance.