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Alibaba and IBM Tops Global Rank for Number of Blockchain Patent Filed

Alibaba and IBM are the corporations with the most blockchain patent filings. The report also indicated the role of China in the blockchain development.

IPR daily reported that Alibaba and IBM are topping a new list of global corporations with the highest number of blockchain-related patent filings.

IPR Daily who specializes in intellectual property revealed that it collated the list across five countries as well as consulting the International Patent System from the World Intellectual Property Organization (WIPO).

The countries included China, the EU, America, and South Korea.

China-based Alibaba topped the list with 90 blockchain-related patent filings, while IBM was second with a total of 89. MasterCard followed closely with 80 patents and Bank of America was fourth with 53 patents filings. Prominent on the list is fifth-placed china’s central bank, People’s Bank of China (PBoC) which have 44 blockchain-based patents.

The bank is working extensively on implementing a blockchain-based digital currency which will improve its monetary system.

Like China, Ma Is Skeptical Of Cryptocurrency

With China-based Alibaba topping the list, it reiterates the popularity of blockchain in China. Alibaba’s founder Jack Ma has often mirrored china’s sentiment on blockchain and cryptocurrency. Ma is a vocal supporter of blockchain despite the fact that he has continually been wary of cryptocurrency.

Coinpedia reported that Ma had called bitcoin a bubble at the second World Intelligence Congress in May. It has also revealed that China has invested a total of $3.5 billion dollars in blockchain technology. However, China has continuously frowned on the development of cryptocurrency activities within its borders.

Another prominent corporation on the list is Accenture PLC, Intel Corp, Visa Inc., Tencent Holdings ADR, Alphabets Inc., and Sony.

Blockchain Development Rise to The Mainstream

Blockchain is becoming increasingly popular. A lot of corporations are scrambling to get ahead the pack by filing for patents on promising blockchain-based applications and systems.

Very few companies have been able to harness the possibility embedded in blockchain in other industries apart from the financial industry. Yet, it seems that the blockchain craze will not be ending anytime soon.

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Ifeanyi

Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

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