Blockchain, Cryptocurrency

Alibaba applies for 10% of the world’s blockchain patents

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.

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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.

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