Chinese Multinational Company, Alibaba Tops the List of Blockchain Patents

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Kisspatent had mentioned that the Chinese multinational company, Alibaba was really picking up the pace in terms of published patents
  • Dr. D’vorah Graeser, a researcher who contributed to this Kisspatent paper clarified that Blockchain-based companies do not file patents

Blockchain is a trending technology now. Several new companies are stepping up and have come with innovative applications in their supply chain. Giant tech companies like IBM, Microsoft have used the technology to enhance their infrastructure. However, more recently a publication launched by Kisspatent has revealed that giants Alibaba and IBM are among the top blockchain patents. And to be precise, Alibaba has published 10 times the patent of IBM. Apart from this, the paper unveiled that blockchain patents are picking up the pace. And the number of patents published this year(data as of June) are more than the number of patents published in entire 2019. 

Second, on the List is IBM Known for its Vivid Blockchain Applications

Previously Kisspatent had mentioned that the Chinese multinational company, Alibaba was really picking up the pace in terms of published patents and is expected to overtake IBM soon. Well the prediction wasn’t that far enough, now Alibaba is officially the leader in terms of blockchain patents. Followed by the Bank of America, apparently the only traditional banking institution in the list of Blockchain applications is IBM. Next in the list are NChain, Mastercard and Walmart. It seems like Nchain is the only pure blockchain company in the list. 

Why is NChain the Only Pure Blockchain Company in the List?

Dr D’vorah Graeser, a researcher who contributed to this Kisspatent paper clarified that Blockchain-based companies do not file patents. It is the Fortune500 companies that do this. This explains why the blockchain company in the list was Nchain, the self-proclaimed inventor of Bitcoin. A similar notion was propagated by Vitalik Buterin the founder of Ethereum. In a tweet, he said that the number of Blockchain patents that a certain country, organization or company has nothing to do with the Blockchain in particular. 

USA Tops the Chart for Country With Most Blockchain Patents

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When it comes to the countries that top in terms of blockchain patents, China isn’t the one. This is because the most popular Chinese multinational company isn’t a Blockchain-based company. Alibaba implements Blockchain applications merely to diversify its technology portfolio. As mentioned above the USA dominates in terms of blockchain applications followed by the Cayman Islands, which is quite unpredictable. It was found that one of the subsidiaries of the Alibaba group is located there. Followed by the Cayman Islands are Canada, Japan, South Korea and China. 

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