Alibaba, IBM, MasterCard Top Global Blockchain Patent Rankings

While disruptive and innovative blockchain technology continues to find increasing use across multiple business sectors, many patents are being deposited for the development of unique new generation blockchain-based systems and applications to gain the advantage of early engines. A new study conducted by IPRDaily, a leading global intellectual technology (IP) company that focuses on IP services and the IP industry ecosystem, ranks global companies based on the number of patents filed, according to CoinDesk.

Chinese and American Companies dominate the list

Among the companies that drive the push to create blockchain-based applications, the Chinese conglomerate of Jack Ma Alibaba Group Holding Inc. (BABA), together with its affiliated companies, is in first place, with a total of 90 patent applications that are focused on blockchain-related technologies. The leading information technology company, International Business Machines Corp. (IBM), approaches a second with 89 patent applications. The third position is held by the global payments and technology company Mastercard Inc. (MA), which has 80 patent applications.

Bank of America Corp. (BAC) listed on the NYSE wins fourth place in the coveted list with 53 depositions of patents in blockchain and People's Bank of China (PBoC), the Chinese central bank, holds the fifth place with 44 questions. PBoC is among the first few central banks in the world that is actively working on its digital currency of its central bank. Over the past year, PBoC's Digital Currency Lab has filed more than 40 patent applications, as the central bank plans to exploit the power of blockchain-based digital currency to enhance its existing monetary system.

The list also includes other important companies in the financial and technological sectors that have deposited at least 20 patent applications related to the blockchain. They are Tencent Holdings ADR (TCEHY), Accenture PLC (ACN), Intel Corp. (INTC), Visa Inc. (V), Alphabet Inc. (GOOGL) Google, Ping An Insurance, Bitmain, Sony and China State Grid Company. (See also Crypto Mining Giant Bitmain publishes with a valuation from $ 40- $ 50 billion .)

The ranking is based on information available from August 10 and comes from IPRDaily from various patent applications systems, databases and agencies. Together with country-specific sources, such as those from the United States, Europe, China, Japan and South Korea, IPRDaily also took the details from the International Patent System from the World Property Organization intellectual. (See also, Most of the Blockchain patents last year were from China .)

A patent grants a property right to an inventor from a sovereign authority and promotes l & # 39; innovation. It allows the patent holder to capitalize to a great extent by having the monopoly of the patented technology or system for a certain period of time, or to request royalties from other companies that might be willing to use it in their products or services. Sometimes companies can not use patented technology, but they still secure the patent to prevent a competitor from launching something similar, or keep it for use in large planned future plans. (See also How Patent Troll Competition ?

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