China has been a hotspot for blockchain patents and improvement. As Cointelegraph beforehand reported, the Nationwide Mental Property Administration of China has awarded 2,191 blockchain patents between 2017 to 2019.
Main multinational corporations have additionally proven immense curiosity in submitting blockchain patents in China. The most recent International Occasions report means that 35 multinationals together with Microsoft, Walmart, Mastercard, Sony and Intel, had utilized for a complete of 212 blockchain patents by the top of March 2020.
Of all of the international corporations with blockchain patents in China, Mastercard tops the checklist with 46 such patents to its title. Whereas there isn’t a information in regards to the firm beginning any enterprise particularly in China, these patents could possibly be aligned to assist them with their international blockchain funds initiative, which they’re creating together with the blockchain software program agency R3.
Nokia, Intel, and Oracle are subsequent on the road with 13, 12, and 9 blockchain patents respectively in China.
Though these corporations are submitting for blockchain patents in China, all of them are but to start out a blockchain-related enterprise throughout the nation. That is indicative of the truth that these corporations are submitting quite a few blockchain-patents for technological accumulation in order that they could put them to make use of sooner or later.
Patent Submitting Pattern
Whereas U.S. organizations are submitting for quite a few blockchain patents in China, Chinese language corporations don’t appear to hassle submitting patents in the US. As Cointelegraph beforehand reported, solely 4.17% of 1.2 million Chinese language patent functions in 2016 have been filed abroad. Conversely, 43% of 521,802 patents filed by U.S.-based corporations have been filed abroad.
Earlier this 12 months, China’s Nationwide Mental Property Administration streamlined its patent-filing course of. Revising tips to patent functions for brand new applied sciences resembling blockchain, synthetic intelligence and large information mirrored the nation’s strategic prioritization of latest tech and strengthening protections for mental property.