What’s Going On?
Tech and banking brands from China and the US lead a list of firms staking global claims to blockchain-focused intellectual property.
Why Does It Matter?
The rankings emerged at the weekend after Chinese IP business site iPR Daily (www.iprdaily.cn) issued its findings. China filed more patent applications than the US last year, with technology companies including Tencent Holdings and Baidu accounting for 56 per cent of the global total of 406, reported Coinspeaker.
Applications from the US came second at 22 percent. The US still has the largest number of cumulative applications, it was reported, but China leads when this year’s results are taken in isolation. Despite filing so many blockchain related patents, China continues to implement a blanket ban on investing or trading in cryptocurrencies, noted CoinTrust.
Who Else Fights For Fintech?
New York-based IBM came in at second place with 89 applications while Mastercard, Bank of America, and Peoples Bank of China (PBOC) completed the top five, reported Smartereum. Other notable companies in the top 20 include Tencent, Accenture, Intel, Visa, Sony, and Google.
iPR Daily said it consolidated information from patent databases as of August this year from China, the US, Europe, Japan and South Korea, as well as the International Patent System from the World Intellectual Property Organization, reported CoinDesk.
Top Five Companies for Blockchain Patent Registrations
- Alibaba – 90 patents filed
- IBM – 89 patents filed
- MasterCard – 80 patents filed
- Bank of America – 53 patents filed
- People’s Bank of China – 44 patents filed