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Big tech and finance companies have been filing patent after patent that indicates the company’s bullishness on blockchain technology. And when it comes to blockchain innovation and patent filings, IBM is leading the pack.
Nobody is unfamiliar with how big the tech giant IBM is betting on blockchain technology. IBM has recently launched its blockchain-based cross-border payment platform World Wire and signed six international banks to roll out their own stablecoins on its platform. IBM is clearly viewing blockchain technology as part of its future vision and so has achieved remarkable results.
In a mere year, IBM’s blockchain-related patents have grown by 300% and now the company has 108 blockchain patents, leaving other huge companies such as Bank of America (52), MasterCard (43), Intel (35), and Walmart (25) behind.
IBM is currently leading the pack in the blockchain patents space and is way ahead of many other majore companies. With 108 active patents, IBM boasts its bullishness and dedication towards blockchain innovation, followed by Bank of America (52), MasterCard (43), and Intel (35). IBM is also leading the race when it comes to hiring professionals who possess blockchain-related skills. According to a research by TeqAtlas, IBM came in first with 335 blockchain-related job openings followed by Oracle with 173 job openings.
IBM is also seeking to be the most dominant player in the blockchain domain, and to achieve this ambitious goal the company has been partnering with other high-profile ventures as well. John Wolpert, Global Product Executive at IBM and Co-Founder of its blockchain development division, tweeted that he had “just bought some Chainlink and was trying to set up an oracle.” Nestle and Carrefour are also partnering with IBM. All these partnerships and collaborations indicate that the World Wire blockchain platform can be a direct rival to SWIFT, a cross border payment channel.
Big Companies Go Big on Blockchain
Looking at the current patenting activity, IBM possesses everything that it needs to become the top player in blockchain space. However, the tech giant may face the tough competition of China’s Alibaba. China is currently moving at a faster pace when it comes to developing and implementing blockchain solutions and Alibaba is ahead of IBM when it comes to blockchain-related patents.
Tech giants and payment processors across the globe are jumping on the blockchain technology train and developing new solutions and offering a wide range of services. Facebook, Amazon, IBM, Microsoft, etc. are a few to name. Facebook has recently announced the launch of its Libra crypto coin while Amazon and Microsoft are developing a blockchain-based cloud platform which can replace the current Software-as-a-service platforms.
To achieve an astonishing mark, companies have been focusing on continuous development and implementation of.