The major Chinese and US financial and technological companies are driving the global push to develop blockchain applications, according to a new report that classifies entities by deposited patents.
The research, published Friday by iPR Daily, a media outlet specializing in intellectual property, shows that the Chinese Internet giant Alibaba is at the top of the list with a total of 90 patent applications focusing on blockchain-related technologies.
In second place there is IBM, which falls only a short of that total with 89 filings, while Mastercard occupies the third place with 80 filings. Bank of America came in fourth place, with 53 blockchain patent applications.
For its ranking, iPR Daily said it had consolidated information from patent databases starting August 10 from China, the US, Europe, Japan and South Korea, as well as the World's international patent system Intellectual Property Organization.
In particular, the People's Bank of China (PBoC), fifth on the list, marks one of the few central banks in the world to have moved into the blockchain industry with a total of 44 patent applications focused on its central bank planned digital currency.
As reported by CoinDesk in June, PBoC's Digital Currency Lab, led by Yao Qian, has filed more than 40 patent applications within 12 months of its launch. Each patent forms part of an important effort by the central bank to create a digital currency that combines the main features of the cryptocurrency and the country's existing monetary system.
Other major companies in the list of iPR Daily who have deposited at least 20 patents related to blockchain applications include Tencent, Accenture, Ping An Insurance, Bitmain, Intel, Visa, Sony, Google and China & # 39; s State Grid Corporation.
The report comes at a time when the technologies developed by some of the companies present are beginning to be transferred to world production.
For example, Alibaba recently launched a payment corridor based on a distributed network to regulate financial transactions for residents living in Hong Kong and the Philippines.
Tencent has also piloted an application through its WeChat messaging service that blockchain to accelerate the process of reimbursement of expenses of company employees.
Patent image via Shutterstock