Stats Shows China Is Leading In Terms Of Blockchain and Artificial Intelligence

Analyzing the number of blockchain patents filed, the UK is at the fourth position, however, is lacking in terms of AI patents as compared to companies in China which top the lead in developing AI technology.

UHY Hacker Young publishes a new study showing 11% of entire global Blockchain technology patents to be filed by UK companies in 2017.  However, The UK ranks at the fourth position in the world. And its holding 34 patents from a worth total of 314 patents filing with the WIPO “World Intellectual Property Organization”.

There is none of the country in the EU making it rank within Top 10 countries for issuing a number of patents regarding blockchain with WIPO. Whereas, China has filed 32% of the entire global patents regarding blockchain technology back in 2017.

The businesses in China have been investing widely within the blockchain sector in recent years. Moreover, the Chinese central bank is also supporting the blockchain innovation for trade finance platform.

Additionally, the study depicts that US is closely watching with 92 patents i.e. (29%), followed by Australia holding 40 patents i.e. (13%), which seems just ahead of the UK.

Patents For New Blockchain Technology

Country Number Of Patents
Combined G7 162
Combined BRICS 102
China 99
United States 92
Australia 40
United Kingdom 34
Canada 27
Republic of Korea 6
Singapore 4
India 3
Total 314

 

The study reveals that UK companies are likely falling back as compared to China and various international competitors in the development of AI tech patents, filing only 2 patents from a total around 649 with WIPO in 2017.

China is leading in any way in case of blockchain and AI patents. Moreover, it drops back all its global competitors with minor distance in the race to create portfolios relating intellectual property. China has filed 473 out of 649 patents regarding Artificial Intelligence with WIPO.

Global competition in the sector of Artificial Intelligence tech has boosted over the recent years. Majority of national govt’s are planning programs to back businesses along with universities in innovating AI clusters driving tech to market.

Patents For New Artificial Intelligence Technology

Country Number Of Patents
China 473
United States 65
South Korea 41
Australia 14
India 6
Canada 5
United Kingdom 2
Germany 2
Total 649

 

The partner at UHY Hacker Young. Andrew Snowdon mentions that if the UK is taking its stance as a hub for new emerging technology.  The authority should make sure more businesses patent their Intellectual Property. He continues:

Blockchain and Artificial Intelligence could unlock significant economic growth and the UK is one of the world’s leaders for developing newer technologies.

According to Snowdon, historically, the UK is at the forefront of research within the sectors of AI and blockchain. For companies like Improbable, DeepMind, and 5AI; the country UK still remains a key leader helping with the development of new innovative technologies.

Related Coverages:

  1. Inside China’s Artificial Intelligence and Blockchain Revolution
  2. China Reveals Its New Anti-Anonymity Regulations For Blockchain Industry
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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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