Blockchain Tops the Patent Filings Mountain Over Other Technologies: Swiss Federal IPI Report
- Patents are filed by firms and individuals in order to protect intellectual property or some other type of idea(s).
- The number of blockchain-related patents filed are reportedly greater than those filed for any other technology.
Greater Number of Patents Filed for Distributed Ledger Technology (DLT)
If you want to know how innovative the blockchain technology is, you can easily see the number of patent filings related to technology. According to a new report made by the Swiss Federal Institute of Intellectual Property and Withers & Rogers, a U. K.-based law company, the number of blockchain-related filings is significantly higher than the ones of other technologies.
The report indicates that the number of blockchain-related patents is significantly outpacing the number of other technologies such as quantum computing, which was pretty popular until some time ago.
Thousands of Blockchain Patents Filed Since 2014
Quantum computing went up as the years passed and it was higher than the blockchain in filings, but it was passed during 2016 and unable to recover its place after that, even with the overall number of patents keeping to go up.
Ever since 2014, when most of the blockchain-related filings started to appear, the numbers are going up quickly. From 2016 to 2017, over 2,600 patents have been filled and all of them were directly linked to the emergent technology.
The research also seems to indicate that there is a lot of space for growth. While it is undeniable that some of these filings were made in a time in which the technology was overly hyped, the truth is that after the hyped died out, the filings continued.
This indicates that many companies have really found some value in the technology, despite how eager they were to exaggerate some time ago. Several companies are using the technology to track products, for instance, as well as to tokenize assets.
Philip Horler, an attorney from Withers and Rogers, affirmed that the trend is set to continue and that the blockchain is expected to grow even more in the next ten years.
The United States Is The Country With Most Patent Filings
It was also revealed that the U. S. was the country with more blockchain-related patents so far. The country had 1,680 patent filings alone during the period in which the research is based.
The second country was China, only slightly behind the United States with 1,590 patent filings. This highlights the obvious, the two most powerful countries in the world are the ones that are leading in this area. The United Kingdom came in third, but it only had 270 patent filings. Canada and Australia were other highlights as well.
According to the research, the most active companies were IBM (143 filings), Visa (74), Coinplug (62), Bank of America (61), MasterCard (52), Alibaba Group (47), Amazon (45), Intel (44) and nChain (44).