China Modifies New Guidelines For Patented AI, Big Data And Blockchain Applications

    China’s National Intellectual Property Administration (NIPA) just revisited their guidelines on the patent assessment process for new technologies such as AI and blockchain. The new blockchain guidelines will begin on February 1, 2020.

    According to the announcement from their office, patent applications regarding Big Data, artificial intelligence, and blockchain technology will henceforth follow all new guidelines.

    The office also stated that it would treat technical features of patented technology when assessing the uniqueness of an invention patent on business rules and algorithms. According to the revised guidebook, all technical features would no longer be treated as separate items.

    Moving forward, they will look at proposed innovations, the technical outcomes, and the challenges the technology may face for adoption and utilization.

    China leads in blockchain-related patents

    China has always shown its support for blockchain and blockchain-related businesses. Before the end of last year, the country had received more than 12,000 applications for blockchain-based patents, according to the Incopat database.

    2019 shows more than 4,200 applications for blockchain technology patents were filed in China, with big companies like ReeChain, Alibaba, and Tencent leading the list.

    Streamlining the process of patient application

    NIPA said the reason behind this recent revision is to restructure the patent application procedure, in terms of new technology. It also hopes to improve the enforcement of patent applications for improved efficiency.

    An example of an update of the new guideline is to secure communications across all blockchain nodes. According to the new guidelines, the communication methods of the blockchain node can solve the limitation of leaky privacy data during inter-communication.

    The guidelines stated that when a new node links up for communication, it should be able to find out the setup and connection based on pre-configured CA trust. It should also be based on CA certificates within the communications request. It will improve the security of blockchain stored data and lower the risk of leaking private data. With the new guidelines, there will be improved security within the communication nodes. It also makes sure the communication nodes and security of these are not compromised.

    Revised Guideline a preparation for the AI and blockchain industry

    Artificial Intelligence and blockchain is gradually sweeping over the Chinese business center. With the rise of blockchain’s popularity, there is a need for effective rules that guide the safety and operation within the industry. Apart from protecting patented technology, the guidelines stress China’s strategic decision towards patent application and intellectual property.

    China paving the way for digitalized currency

    China is implementing several laws in preparation for the Central Bank's digitalized currency. The regulators are implementing laws to make it easy to oversee all businesses related to cryptocurrency and digital assets in the country.

    The country has officially implemented its guidelines for cryptographic passwords management.  They also have plans for the Central Bank to create a long-awaited digital Renminbi.

    The law was passed towards the end of October of last year. According to the law, passwords, commercial passwords, and common passwords would be divided. The law, in particular, is meant to aid the development of cryptocurrency and blockchain-related businesses in the country.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Ali Raza
    Ali Raza
    A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of cryptocurrency publications.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Money Is At Risk In Banks, Bitcoin Is Probably The Most Secure Currency Right Now: Tim Draper

    “If we're able to hold above $7,800, it will be a very good sign,” - Mati Greenspan Venture Capitalist advises millennial's to start...

    XRPL Labs Founder Wietse Wind's XRP TipBot Banned On Twitter, A Sign To Come For Tipping Bots?

    On January 24, Twitter decided to disrupt the XRP community by banning the XRP Tip Bot account, which is a service developed by the...

    Litecoin Founder Charlie Lee Proposes 1% Block Reward Funding Plan To Rake in $1.5 Million

    Proposal for donating 1% of block rewards to generate $1.5 million per year It’s like paying for your kid’s college and “securing your...

    Travala Expands Its Crypto Payments Options By Adding NEM's XEM Token

    Travel platform Travala, a firm that allows its customers to pay for hotel accommodations using digital currencies, has partnered with the NEM Foundation to...

    Elon Musk Thinks Crypto Could Be a Replacement for Cash

    Billionaire, SpaceX and Tesla CEO Elon Musk is also known for his cryptic tweets on crypto and Bitcoin (BTC), but on January 20, he...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.