In accordance with the court’s decision, the company issuing Alibabacoin will rename the coin to ABBC. Note, a lawsuit against her filed a giant of online commerce Alibaba. Jack Ma stressed that it’s against people being misled and using the brand for illegal reasons.
Alibabacoin fund management responded by stating that it did not intend to take advantage of the Alibaba name. According to company employees, the Chinese government’s ban on ICO should help avoid potential confusion.
The e-commerce giant won the case in court. Representatives of Themis decided that "Alibaba" should not be used as a name for the coin, as this can really cause confusion.
To settle a lawsuit, Alibabacoin had to agree to change the name of the coin on ABBC. The same name will be carried by the Foundation itself. The e-commerce giant declined to comment.
