Alibaba, IBM and Mastercard at the Top of Blockchain Patent Ranking

Alibaba, IBM and Mastercard at the Top of Blockchain Patent Ranking

Large financial and technical entities Alibaba and IBM from China and the U.S. respectively are leading in the new top-list that ranks companies by the number of blockchain patents filed.  

The World’s Leaders in Blockchain 

iPR Daily, a Chinese media outlet focused on intellectual property, released a report showing the total amount of patents filed by each of the world leaders. It demonstrates that Chinese web giant Alibaba is at the top of the list with 90 blockchain patent applications. 

IBM, an American technology company, has to date filed 89 applications, while Mastercard possesses third place with 80 patents. With 53 blockchain-focused patents, Bank of America made it to fourth place. 

The researchers said they united data from the International Patent System from the World Intellectual Property Organization (WIPO) and patent databases as of Aug. 10 from China, the U.S., South Korea, Japan and Europe. 

Visa, Sony, Google, Walmart and other outstanding companies are also on the list with at least 20 blockchain patents. 

China’s Steps Toward Blockchain Advancement 

The People's Bank of China (PBoC), the country’s major bank, is one of the few central banks that have moved into the industry with the sum of 44 patents focused on central bank-issued cryptocurrency within 1 year of its launch. Each patent represents a part of a noteworthy effort by the national bank to create digital money bringing together key features of cryptocurrency and the nation's current financial system. 

Not so long ago, Alibaba introduced a payments corridor on blockchain to complete transactions for users living in Hong Kong and the Philippines. 

In 2017, China had the highest number of patents for blockchain innovations – 225, compared 91 from the U.S. and 13 from Australia. 

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