India at 6th while China Tops in Number of Blockchain Patents

India at 6th while China Tops in Number of Blockchain Patents

China is on the top of when it comes to the number of blockchain patents filed surpassing those filed in the USA, reports Hard Fork, which pulled the data from the World Intellectual Property Organization’s websites.

The data indicated that last year, blockchain patents published in 2018 were in excess of 1000 while those published in 2017 stood at around 971.

Despite the ban on cryptocurrencies, China is leading the list of cuntries with most patents with 790 approvals followed closely by the United States with 762 approvals. South Korea, Australia, Canada, India, U.K, Singapore and Japan were next in the line with 161, 136, 67,67, 36, 28, and 12 blockchain patents respectively.

India at 6th while China Tops in Number of Blockchain Patents
Image –

Looking at which companies were most active in filing Blockchain patents, the data indicated that London-based nChain is not top with 203 patent filings followed by IBM (119), Mastercard (111), Coinplug (84), and Alibaba (60).

It is to be noted that although nChain is based in London, UK, the company received approval for applications made in other countries – namely Canada, Australia, and India – hence why the UK was not the country with the highest number of patent approvals.

Other top companies that were captured in the data include Microsoft, Intel, Bank of America, PBoC’s Digital Currency Research Institute, Visa, and Accenture.

According to Hard Fork:

Despite the fact that digital currencies and blockchain technology were first designed to circumvent centralized organizations, those very entities are the ones driving patent submissions in an attempt to improve their bottom line.

Source – The Next Web, CryptolineNews

Like this content? Sign up for our daily newsletter to get latest updates.

Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

Travel Tech Startup Guiddoo Raises Funding from SOSV, Artesian

Previous article

Govt’s Startup Fund to Get $430 Million Boost

Next article



This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in Blockchain