Despite the fact that the Chinese company, Alibaba has registered the most patents this year. The United States is still the country with the most blockchain patents. after a report of September 17th of the Intellectual Property Consultation, KISS patent.
IBM and Alibaba hold most of the blockchain patents. Alibaba has filed more than 200 patents, while IBM has filed just over 100. But other US-based companies like: Bank of America and Mastercard have also filed several patent applications, which according to the KISS patent increases the total for the US. More Blockain patents were filed in the first half of 2020 than in all of 2019.
The United States has 2,112 patents, followed by Cayman Islands with 350 and Canada with 118. The rest of the top six are Japan with 108, South Korea with 87 and China with 77 patents. The Cayman Islands are in second place, As Alibaba subsidiaries based in British Territory, they have made such requests.
Although Chinese companies are often featured on various lists of the top 10 blockchain patents, Not all companies work exclusively on the blockchain. According to the KISS patent, these companies have blockchain applications as part of their technology portfolio. The reason China filed so many patents, according to the report, was to avoid some trade sanctions overseas. To explain:
“They learned from the example of Xiaomi, the ‘Chinese apple’ that was prevented from selling its smartphones on its foray outside of China because the Swedish company Ericsson had too many patents.”
Source: KISS patent
The most popular category of patent application, which accounts for half of all patents, They are fintech applications. This includes applications that use cryptocurrencies and those that support storing or exchanging cryptocurrencies. Other popular categories are patents for Decentralized business platforms, solutions that are provided in a blockchain, business services with a financial component, healthcare and traditional banking in a blockchain.
Many industry players expressed concern due to the excess of patents pending by trolls, in order to Square helped launch the Cryptocurrency Open Patent Alliance. The group wants to democratize access to disruptive technologies.