New Cintelliq Report Reveals USA Is Outpacing China In Meaningful Blockchain Patent Filings

2019-2-7 20:26

New Report Claims U.S. Firms Have More “Core Blockchain-Tech” Patents Than China

As per a new study released by Cintelliq, the total number of American blockchain patent filers severely outnumber those from other big-name countries such as China. As part of the study, the firm took into consideration more than 5,750 patents that have been doled-out to deserving applicants till date. These patents primarily fall into one of the following four categories:

Applications Core technology General inventions Mixed core/applications tech.

When looking at ‘core-tech’, the domain focuses solely on blockchain applications related to subjects like proof-of-work, proof-of-stake, and mining hardware optimizations. Similarly, ‘application patents’ are tuned towards things such as smart contracts, digital certificate management etc.

In regards to core blockchain-tech, US-based firms topped the list for the most awarded blockchain patents with 186. Additionally, it is also worth noting that American and South Korean entities account for more than 70% of all awarded blockchain patents since the year 2008. In this regard, China currently lays in the third spot with a total of 74 granted patents.

Other Key Data Worth Bearing in Mind:

U.S filers have been able to procure a whopping 377 core-tech related patents. Chinese filers have tended to focus more on blockchain application related patents— with associated entities having gathered around 696 of them in total. More On The Matter

A deeper look at the report shows us that the total number of blockchain-related patent applications have nearly doubled within the last year alone. Not only that, China still leads the blockchain race with its citizens accounting for a whopping 41% of all filed patents.

China is followed by the United States, S.Korea and the United Kingdom.

Lastly, it is worth mentioning that China’s filing dominance is a direct consequence of its government's various incentive schemes that offer filers with tax benefits. With that being said, a study released by Bloomberg last year showed that nearly 40% of all invention patents acquired by Chinese citizens are discarded within a period of 3-5 years.

Final Take

In rounding out this article, it is worth mentioning that while China may be filing for more blockchain patents than anyone else in the world, most of these inventions never materialize — and even if they do, they are not necessarily all that great.

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