Latest-ranking-in-Blockchain-related-Patents-place-Alibaba-and-IBM-at-the-top

Latest Ranking In Blockchain-Related Patents Place Alibaba And IBM At The Top!

Blockchain adoption is currently a hot topic for entities operating within the big economies like the USA and China. According a recent market research, most of the blockchain-related patents filed so far are from organizations based within these two jurisdictions.

This news was posted on a release by iPR Daily, a news outlet entity that specializes with issues relating to intellectual property (IP). According to the Friday release, Alibaba appears to be the leading innovator of blockchain technologies having applied for 90 patents so far. The Chinese based tech company is currently a market leader globally competing with the likes of Amazon in the USA.

IBM comes in as the runners-up with one patent short to meet Alibaba’s 90 applications. It is then followed by Matercard which so far has applied for 80 patents, Bank of America takes position four with 53 blockchain-based patents applied to date. Therefore, it is evident that financial institutions and tech companies have taken the blockchain wave serious and included Research & Development costs for this purpose in their yearly budgets!

To come up with the rankings, iPR Daily gathered data various databases within the top-tier economies for consolidation. The countries whose patent database was accessed include the USA, China, Japan, South Korea and Europe. In addition, they also collected data from the International Patent System.

China’s central bank, People’s Bank of China, surprisingly made 5th position on this ranking. The regulator is reported to have filed for 44 blockchain-based patents as of press with an aim of building the best digital currency for its operations.

The PBoC presence within the blockchain & crypto sphere began to be felt when it established the Digital Currency Lab subsidiary solely for digital assets. According to a report published by Coindesk a few months ago, the regulator was already making history having filed for over 40 patents within its first year of operation. This is in line with PBoC’s effort to find the best coin for integrating with China’s monetary infrastructure.

In addition to the above companies, iPR Daily included other major stake holders in the report whose patent applications exceed 20. These include the popular mining-related ‘Bitmain’, Sony, Intel and Google. So far, the blockchain-based applications created by some of these companies are demos in the market while others have already been launched for use in the real world.

A good example of a company putting its blockchain protocol to use is Alibaba; the Chinese based company now facilitates digital ledgers for financial settlements with clients in Philippines and Hong Kong. Tencent is also another active player whose blockchain services targets to improve the reimbursement speed of expenses incurred by corporate employees.

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