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The US Is Primary…in Blockchain Patents

Despite Alibaba submitting extra patents, the United States nonetheless takes the lead because the nation with probably the most blockchain copyrights, a Sept. 17 report from mental property consultancy KISSPatent.

The U.S. has 2,112 patents, adopted by the Cayman Islands with 350 filings and Canada with 118. The remainder of the highest six are Japan with 108, South Korea with 87 and China with 77 patents.

The Cayman Islands is second, as most of Alibabas blockchain functions are situated on the island.

Although Chinese firms are sometimes represented in varied top 10 blockchain patent lists, they arent pure blockchain firms. The report says these firms targeted on blockchain functions as a part of their know-how portfolio. The purpose for China to fill so many patents was to keep away from some buying and selling sanctions abroad. It defined that:

Theyve learned from the example of Xiaomi, the Chinese Apple, which was blocked from promoting its smartphones in its foray out of China – as a result of the Swedish Ericsson held so many patents.

Source: KISSPatent

The hottest class of patent submitting is for fintech functions. These embody functions utilizing cryptocurrencies, supporting storage or the trade of cryptocurrencies. It represents half of all blockchain patent functions, says the report. Other well-liked classes have been decentralized enterprise platforms, options deployed over blockchain, enterprise companies with a monetary part, healthcare and conventional banking companies grafted onto the blockchain.

IBM and Alibaba maintain probably the most blockchain patents. Alibaba, particularly, has filed 10 occasions extra patents than IBM in 2020. According to KISSPatent, extra blockchain patents have been filed within the first half of 2020 than all of 2019.

Many trade gamers expressed concern over patent trolling, so Square helped launch the Cryptocurreny Open Patent Alliance. The group needs to democratize entry to modern applied sciences.

The US Is Primary...in Blockchain Patents

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Patricia Bakely

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