China is fighting ahead in developing blockchain technology by applying for numerous patents focused on leading all other countries. Alibaba has already applied for 10% of the world’s blockchain patents and the People’s Bank of China filed for 68 patents in 2017. This is in comparison to the United States which filed only 22% of the annual patents in 2017. However, the US still has the highest total number of pending applications.
This recent news tells us that China is fighting hard to develop and lead the world in blockchain technology. They have a little catching up behind the US but China looks eager to put whatever resources needed to win this battle. I expect to see China the leader in annual blockchain patent filings for the next few years.