Initially when the words blockchain or cryptocurrency were mentioned, immediately people would jump to conclusions that a scam was involved. But now, governments, major corporations and banks are rushing to get their hands on what blockchain technology has to offer. There it comes as no surprise that governments and such corporations are spending tremendous resources, money and time to acquire and research the technology.
A recent report by iPR daily showed that two tech giants, in particular, have taken the lead in terms of acquiring blockchain technology or at least with regards to the number of blockchain related patents they have secured. The two tech giants are Alibaba and IBM. As of today, they each respectively hold close to about 100 patents.
Cited by Coin Telegraph, Alibaba has already filed for about 90 blockchain- related patents while IBM is at about a total of 89. Next up in the third position was Mastercard with 80 filed patents. Banks are also increasingly involving themselves in the race to get their hands on blockchain technology. One example to note is the Bank of America who is in fourth place with 53 patents filed.
It is interesting to note that though China has been clamping down on Crypto-related activities, major companies such as Alibaba, Tencent, Baidu are actively filing for blockchain-related patents. It seems clear that most of the blockchain patents are coming from China. For instance, in 2017, Chinese companies filed for more than 225 applications for blockchain-related patents while American companies were far behind by 91. It comes to no surprise that Alibaba is in the lead of getting blockchain-related patents because the head of Alibaba, Jack Ma, has stated many times that he has great optimism for blockchain as a technology and how it can change the world.
IBM maybe be slightly behind Alibaba but they may overtake them to be at the top anytime. The computer maker has recently signed a 5- year, $740 million deal with the Australian government to integrate blockchain, among other technologies, into data security and automation.
Sources: iPR, Cointelegraph