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US, Asian Firms Take Lead in Blockchain Rollout

Already, a number of renowned global firms are using such application for large-scale production

 


Alibaba, IBM Leading in Blockchain Patent Application

American and Chinese firms are taking the lead in developing blockchain apps. The companies are majorly drawn from the financial and tech sectors. The details are contained in a recently released report that rates enterprises by number patent filed.

According to data from a study commissioned by iPR, Asian e-commerce firm Alibaba is sitting at the top of the list. Alibaba has 90 patent application specifically meant for blockchain technology.

iPR released the report on Friday where IBM took the second position. So far 89 patent has been filed by the giant tech firm. In the third place, we have MasterCard with 80 patents. Bank of America followed with 53 patents fillings.

iPR Daily noted that the research was conducted from mid-August. The filings database was sorted from the Asia, U.S and some parts of Europe. Additionally, the data was sourced from the IPS under the WIP.

China’s Top Bank Takes Lead Among Global Central Bank

The PBoC ranked fifth making it one of the central banks globally to show interest in the technology. The bank has filed  44 patent listings. The application is anchored on the bank’s digital currency.

In June, it emerged that PBoC digital currency section was working on Yao Qian. It filed more than 40 applications within 12 months of its launch.  A look at a single patent indicates that the digital currency will combine key features of cryptocurrencies and the already established financial system.

Notable Patent Applicants

Bitamain, Google, and Visa are among global firms to have at least 20 patents already filed.

The report coincides with the current rollout of blockchain applications in real life production. Alibaba has already launched a payment platform based on the blockchain meant for use in the Philippines and Thailand.

Through WeChat, Tencent has launched a service solely anchored on the blockchain to hasten the procedure of refunding expenses incurred by corporate employees.



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