{"id":6107,"date":"2018-03-26T02:30:39","date_gmt":"2018-03-26T02:30:39","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=6107"},"modified":"2018-03-26T11:21:23","modified_gmt":"2018-03-26T11:21:23","slug":"china-filed-more-than-half-of-blockchain-patents-in-2017","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/china-filed-more-than-half-of-blockchain-patents-in-2017\/","title":{"rendered":"China Filed More Than Half Of Blockchain Patents In 2017"},"content":{"rendered":"

\"\"Tech companies across the world are rushing to patent their novel systems developed using blockchain technology, which is perceived to be a game changer in the field of finance and supply chain management. According to a Financial Times report<\/a>, China has filed more than half of the 406 blockchain related patents in 2017.<\/p>\n

Notably, patents specific to cryptocurrencies, which are not included in blockchan category, increased 16% y-o-y to 602 in 2017. China has been less dominant in Bitcoin and cryptocurrency<\/a> patents. <\/p>\n

Over the past five years, the top filers were US and European companies, including Netherland\u2019s Gemalto (35), IBM (54), Intel (34), Amazon Technologies (27), and Thomson Licensing (31).<\/p>\n

Alex Batteson, editor at Thomson Reuters\u2019 Practical Law<\/strong>, states<\/p>\n

\u201cCompanies are moving fast in order to protect their ideas in new areas of technological development \u2014 long before the technology actually goes to market.\u201d<\/p><\/blockquote>\n

While China filed 225 and 59 patents in 2017 and 2016, respectively, the US filed 91 and 21 in 2017 and 2016. Australia takes the third place with 13 and 19 blockchain related patents in 2017 and 2016, respectively.
\nIn the top nine list of companies, which have filed blockchain patents between 2012 and 2017, six of them were Chinese, led by Beijing Technology Development.<\/p>\n

In the US, payment processing giant MasterCard had filed 25 blockchain patents in the same period. Lichtenstein\u2019s nChain Holdings, which considers itself as the \u201cglobal leader in research and development of blockchain technologies\u201d filed 18 applications.<\/p>\n

According to Thomson Reuters, recent blockchain applications include Bank f America\u2019s filing for a technology that facilitates \u201cperson-to-person alias-based payments\u201d<\/strong>. Likewise, BT Group has filed a patent application for a way to detect attacks on blockchain. MasterCard International has also filed a method for tracking payments and uploading data on to the blockchain at the point of sale.<\/p>\n

It should be remembered that not all companies patent their discoveries. Similarly, all patents do not result in the creation of a viable product or use case. Still, according to Thomson Reuters, the patent data reflects activity in a particular domain and create entry barriers.<\/p>\n

Batterson said \u201cPatents are also important for companies to attract all-important investment. Investors need to know that a business owns and can capitalize on the intellectual property and will not face interference from other parties claiming ownership.\u201d <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Tech companies across the world are rushing to patent their novel systems developed using blockchain technology, which is perceived to be a game changer in the field of finance and supply chain management. According to a Financial Times report, China has filed more than half of the 406 blockchain related patents in 2017. Notably, patents […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68],"tags":[],"class_list":["post-6107","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency"],"yoast_head":"\nChina Filed More Than Half Of Blockchain Patents In 2017<\/title>\n<meta name=\"description\" content=\"According to a Financial Times report, China has filed more than half of the 406 blockchain related patents in 2017. Notably, patents specific to cryptocurrencies, which are not included in blockchan category, increased 16% y-o-y to 602 in 2017. China has been less dominant in Bitcoin and cryptocurrency patents.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/china-filed-more-than-half-of-blockchain-patents-in-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Filed More Than Half Of Blockchain Patents In 2017\" \/>\n<meta property=\"og:description\" content=\"According to a Financial Times report, China has filed more than half of the 406 blockchain related patents in 2017. Notably, patents specific to cryptocurrencies, which are not included in blockchan category, increased 16% y-o-y to 602 in 2017. China has been less dominant in Bitcoin and cryptocurrency patents.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/china-filed-more-than-half-of-blockchain-patents-in-2017\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-26T02:30:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-03-26T11:21:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2015\/02\/china.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"China Filed More Than Half Of Blockchain Patents In 2017\",\"datePublished\":\"2018-03-26T02:30:39+00:00\",\"dateModified\":\"2018-03-26T11:21:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/\"},\"wordCount\":370,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2015\\\/02\\\/china.jpg\",\"articleSection\":[\"Bitcoin\",\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/\",\"name\":\"China Filed More Than Half Of Blockchain Patents In 2017\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/china-filed-more-than-half-of-blockchain-patents-in-2017\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2015\\\/02\\\/china.jpg\",\"datePublished\":\"2018-03-26T02:30:39+00:00\",\"dateModified\":\"2018-03-26T11:21:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"According to a Financial Times report, China has filed more than half of the 406 blockchain related patents in 2017. 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