WASHINGTON, DC / ACCESSWIRE / January 22, 2021 / The Safex Foundation's privacy-focused blockchain engine for ecommerce, has announced that is has filed a lawsuit in federal court to protect its trademarks and reputation.
Safex Foundation filed a lawsuit in the United States District Court for the District of Columbia seeking an injunction to halt the unauthorized use of its trademarks. Safex Foundation alleges that the defendants have misappropriated Safex's Foundation trademarks. Safex Foundation also alleges that defendants have been publishing false accusations about Safex and disseminating them to cryptocurrency exchanges, cryptocurrency price listing services, and social media platforms. Safex Foundation claims that defendants actions have resulted in the delisting of Safex Tokens (SFT) and Safex Cash (SFX) from certain cryptocurrency price listing services. Safex Foundation also claims that the defendants actions have caused certain of Safex Foundation's social media accounts to be deactivated, including its Twitter account. Safex Foundation sought to protect its trademarks and reputation in federal court by filing a complaint and a motion for emergency relief.
Safex Foundation is also pressing ahead with development plans and has announced the launch of a native Safex cash wallet. Its founder, Daniel Dabek said that "Safex exchange is peer to peer and decentralized. While we have decided to enforce our trademark rights and defend the Safex community in federal court, this does not stop us from moving ahead with new developments and innovations that bring freedom, security, and opportunity to people all over the world. In December of 2020, our blockchain network evolved with the launch of our decentralized marketplace, and this marks just the beginning. We have big plans in the pipeline for our community development platform, new exchanges that are listing Safex Tokens and Safex Cash, as well as our arbiter network enabling cheaper, more transparent global commerce to take hold."
He added "The public's appetite for a superior ecommerce system will continue to drive us, and the recent success of the wider crypto market is certain to bring more eyes to the industry. With the Safex platform, anyone can create an account, start a web store, and participate in revenue sharing. Our platform will be known for low fees, fast payment settlement, privacy and security. These are attributes that our American economy desperately needs in the face of Covid, Amazon anti-competition controversies, and the loss of opportunity the pandemic has waged against so many people. We're enjoying the journey and can assure our community that the best is yet to come."
The decentralized Safex Foundation's World Marketplace launched last month, powered by the mineable Safex Cash (SFX) coin. The open-source platform can facilitate borderless, peer-to-peer trade, connecting vendors and sellers with customers throughout the world. Safex Cash (SFX) is used to pay for products, services and transaction fees. Safex Token (SFT) is used to be a seller, and earn revenue proportional to what is staked into the network.
Within the two-coin Safex token ecosystem, the security of both senders and receivers is ensured through Ring Signatures and One-Time addresses. Safex Foundation also enables users of the platform to lock their SFT coins and earn proportional interest in line with growing marketplace activity. At present, around 2.79% of SFT coins have been used for staking. More than 1000 merchant accounts have been registered since December 23, 2020. Uniquely, the platform's staking mechanism does not contribute to the consensus mechanism of the chain itself, unlike other networks that use tokens to stake for the purpose of block production.
Like Bitcoin in its early days, Safex's platform is created on a Proof of Work (PoW) blockchain that lets users mine cryptocurrency on everyday computing hardware. A novel innovation with Safex's blockchain coin emission is that it follows an S-shaped curve, making it more attractive for new miners seeking long term opportunities as the ecosystem's future looks bright.
About Safex Foundation
Safex Foundation's exchange is a blockchain-powered engine for ecommerce, giving vendors and shoppers the ability to transact with privacy using cryptocurrency. A two-coin system, Safex's platform can embed digital assets in any shopping website and provide merchants and customers with anonymity and heightened security. Initially built on the Bitcoin blockchain, Safex Foundation chose to migrate to its own blockchain which is powered by Safex Tokens (SFT) and Safex Cash (SFX).
Safex Token and Safex Cash are the native cryptocurrencies of the Safex Foundation. Safex Platinum is NOT affiliated to the Safex Foundation in any way.
CONTACT:
Dan Edelstein
pr@marketacross.com
+972-545-464-238
SOURCE: Safex
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