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India Ranked 6th in Number of Blockchain Patents While China Claimed the Top Spot

March 14, 2019 14:08
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In the technology space, one’s might is showcased through its constant work on innovation and invention of products and services. And, the most suitable way to showcase it is through having patents.

And, to understand the scenario of patents and key trends in the blockchain space, Hard Fork pulled out data from the World Intellectual Property Organization’s (WIPO).

As per the data, China leads the chart with the most number of patents originating from its land compared to the United States, despite its hard stance on cryptocurrencies. China has almost 790 patents approvals, followed closely by the United States with 762 patent approval.

The sector has witnessed a record surge in patents approvals in 2018, with total 1,060 patents were published during the period, compared to 971 patents approvals in 2017. In this year, WIPO has granted close to 242 cryptocurrencies and blockchain related patents till now and most likely to surpass the trends of 2018.

In the list, the United States is followed by South Korea with 161 patents, Australia with 136 patents and Canada with 67 patents.

India is ranked sixth in the list with a total of 67 patents approval and is followed by the United Kingdom and Singapore.

So, who are filing such a large number of patents? According to the data compiled by Hard Fork, global technology companies like Microsoft, IBM, Intel, MasterCard, Alibaba and nChain Holdings Limited has filed between 60-230 patents.

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