BTC $44225.00 (0.67%)
ETH $3073.91 (-1.2%)
USDT $1.00 (0.02%)
BCH $541.53 (-0.2%)
BSV $147.00 (0.62%)
LTC $160.34 (0.13%)
BNB $372.99 (-1.7%)
ADA $2.26 (0.21%)
DOGE $0.22 (-1.5%)
BTC $44225.00 (0.67%)
ETH $3073.91 (-1.2%)
USDT $1.00 (0.02%)
BCH $541.53 (-0.2%)
BSV $147.00 (0.62%)
LTC $160.34 (0.13%)
BNB $372.99 (-1.7%)
ADA $2.26 (0.21%)
DOGE $0.22 (-1.5%)

Alibaba Tops Blockchain Patent Race With 1.5K Applications

Alibaba Tops Blockchain Patent Race With 1.5K Applications

E-commerce giant Alibaba is leading the world’s blockchain patent race, holding about 1,505 patent applications filed out of the 3,924 blockchain-related patents globally.

According to a report by intellectual property consultant firm KISSPatent, Alibaba has even exceeded US computer giant IBM, having published ten times more than its rival. Should it continue at its pace, Alibaba is expected to be the largest blockchain patent holder at the end of 2020.

Following Alibaba in terms of a patent application is e-commerce rival Tencent, which filed about 724 patent applications. The third is Ping An with 561 patents so far. These three are all Chinese commercial giants.

Specifically, out of 100 companies listed from different countries and regions in the world, Chinese firms reportedly filed 60 percent of all blockchain-based patent applications, followed by American and Japanese firms with 22 and 6 percent, respectively.

What is more, the report observed that Fortune 500 companies are the ones that are filing more blockchain-based patent applications than blockchain firms themselves.

Kisspatent researcher Dr. D’vorah Graeser wrote,

Blockchain-only companies are not filing for patents, Fortune500 companies are.

Meanwhile, China has officially launched it’s Blockchain-Based Service Network (BSN)  to ignite global adoption and enterprise use of blockchain technology. Also, to enhance supply chain transparency. It will also provide stablecoin support in 2021.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.