New Cintelliq Report Reveals USA Is Outpacing China In Meaningful Blockchain Patent Filings
New Report Claims U.S. Firms Have More “Core Blockchain-Tech” Patents Than China
As per a new study released by Cintelliq, the total number of American blockchain patent filers severely outnumber those from other big-name countries such as China. As part of the study, the firm took into consideration more than 5,750 patents that have been doled-out to deserving applicants till date. These patents primarily fall into one of the following four categories:
- Core technology
- General inventions
- Mixed core/applications tech.
When looking at ‘core-tech’, the domain focuses solely on blockchain applications related to subjects like proof-of-work, proof-of-stake, and mining hardware optimizations. Similarly, ‘application patents’ are tuned towards things such as smart contracts, digital certificate management etc.
In regards to core blockchain-tech, US-based firms topped the list for the most awarded blockchain patents with 186. Additionally, it is also worth noting that American and South Korean entities account for more than 70% of all awarded blockchain patents since the year 2008. In this regard, China currently lays in the third spot with a total of 74 granted patents.
Other Key Data Worth Bearing in Mind:
- U.S filers have been able to procure a whopping 377 core-tech related patents.
- Chinese filers have tended to focus more on blockchain application related patents— with associated entities having gathered around 696 of them in total.
More On The Matter
A deeper look at the report shows us that the total number of blockchain-related patent applications have nearly doubled within the last year alone. Not only that, China still leads the blockchain race with its citizens accounting for a whopping 41% of all filed patents.
China is followed by the United States, S.Korea and the United Kingdom.
Lastly, it is worth mentioning that China’s filing dominance is a direct consequence of its government's various incentive schemes that offer filers with tax benefits. With that being said, a study released by Bloomberg last year showed that nearly 40% of all invention patents acquired by Chinese citizens are discarded within a period of 3-5 years.
In rounding out this article, it is worth mentioning that while China may be filing for more blockchain patents than anyone else in the world, most of these inventions never materialize — and even if they do, they are not necessarily all that great.