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Patent applications for blockchain innovations are booming around the world and Australia is "overcoming its weight" according to a report by ACS and IP Australia. patent analysis hub.
Worldwide, the number of blockchain patent stores has grown from 140 to 230% every year since 2013. While the inventors of the United States and China dominate the patent list, Australia is ranked sixth in terms of number of "patent families" presented by Australian companies and individuals.
The report Blockchain Innovation: a patent analysis report identified 49 patent families from 55 Australian candidates.
"The Blockchain patents have more than doubled every year, and we can see real opportunities for Australia in blockchain technologies," commented Benjamin Mitra-Kahn, chief economist at IP Australia.
The main candidates for the Australian patent are: Bloxian, based in Sydney, who at the beginning of this year worked with the software company R3 to work on its blocka platform of Corda; Identification identified by ASX, used by HSBC in its effort to respect cross-border payments; Perth fintech Money Catcha, another HSBC partner.
The CSIRO government agency and its unofficial Data61 also achieved excellent results. Data61: collaboration with the Concurrent Systems Research Group at the University of Sydney – in September, he validated his Blockchain in Belly Red on a small scale.
Other major Australian blockchain inventors have been appointed as Sydney's TBSx3 which is applying blockchain to product verification use cases; Enome health record management company; and identity management and Bron Tech data sharing platform.
"It's good to see that despite strong competition in this space, Australia is gaining its weight when it comes to blockchain innovation We have already seen the Australian financial services industry invest heavily in concept tests, together with the Stock Exchange and the government departments, including the Digital Transformation Agency, "said ACS President Yohan Ramasundara.
The Australian figures are eclipsed by the Chinese patent families of 1520, which account for more than half of the total patents deposited globally. With just over half the number of patents filed, the United States is in second place with 773.
Registered patents are a good indicator of countries that are "hotspots" for research and development, the report says, and can help innovators understand who has a business interest in technology and where they are.
South Korea's Coinplug – which provides various Bitcoin exchange platforms, electronic portfolio services and online point-of-sales service – is the single entity with the highest number of approved patents, with 69 total.
IBM is in second place globally with 12, followed by Accenture and Microsoft Azure, which have seven each.
Coinplug and IBM are also at the top of the list of active patents (including those deposited but still to be granted). In third place on that list is Alibaba Group and the fourth, Bank of America.
According to the report, the most common use cases for blockchain technology based on registered patents are the management and management of documents and payment and transaction systems.
Demonstrate the promise
Blockchain-based technologies "confirm themselves as a new basis for transactions in society", said a report published last year by the CSIRO Data61 research group.
The Australian Securities and Investments Commission (ASIC) said it expects the range of potential uses of blockchain-style distributed accounting technology to grow "exponentially" over time.
Australia is home to a series of proofs of concepts that use technology. This year the Commonwealth Bank of Australia has applied blockchain to track down and exchange 17 tons of almonds and use it as a base for an asset trading platform.
In December of last year ASX Limited, manager of the Australian Securities Exchange, has confirmed that it was replacing its decade-old electronic sub-system Clearing House with distributed book-keeping technology based on blockchain.
It is expected to spread around March 2021. The use of the underlying technology to support "tokenization" was also suggested by ASX CIO Dan Chesterman.
It is expected that spending on blockchain networks will reach $ 2.1 billion this year, more than double the amount spent on electronic register technology distributed in 2017. According to IDC, total spending will reach 9.2 billions of dollars by 2021.
Tags AustraliasourceIPintellectualectualpatentIP AustraliaBitcoininventioninventorBlockchaindexributed ledger technologyDLT
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