China Registered 99 Blockchain Patents While the US 92: What About the United Kingdom?
Blockchain technology and artificial intelligence, among other revolutionary technologies, are growing all over the world. In different countries, governments are interested in how it is possible to use them and improve a wide range of industries. Although the intention is to regulate the market and create legal frameworks around this technology, governments are not sure how to avoid over-regulating the space.
According to the UHY Hacker-Young firm, the United Kingdom ranked among the top countries registering blockchain patents. Nevertheless, in terms of artificial intelligence patents, the country did not perform so well.
The first thing to mention is that China has registered the largest number of patents both in blockchain technology and artificial intelligence. This shows how this country is performing in the technological landscape.
In terms of blockchain patents, China registered 99, followed by the United States with 92, Australia with 40 and the United Kingdom with 34. Canada registered 27, South Korea 6, Singapore 4 and India 3.
In terms of artificial intelligence, the situation is different. China is the clear leader with 473 patents, followed by the United States with 65. South Korea registered 41, Australia 14, India 6, Canada 5, the United Kingdom 2 and Germany 2.
These results are somehow negative for the United Kingdom. The number of patent filing seems to be low, especially in AI. This might be related to the fact that the UK is leaving the European Union (EU) and there is uncertainty about its future.
On the matter, Andrew Snowdon, a partner at UHY Hacker Young’s office, commented:
“If the UK is to maintain its strong position as a hub for new technology, the Government needs to ensure more business patent their Intellectual Property.”
London could continue to be a technological and blockchain hub in the future, even if there is a hard Brexit. Nevertheless, the uncertainty related to the Brexit has already caused some problems to the economy and the crypto and blockchain space in the United Kingdom.