Top Blockchain Patent Applicants: Alibaba, IBM, MasterCard and Bank of America

A new report, which ranks the top companies that have filed patents surrounding blockchain technology, is another a proof of the immense popularity of blockchain and what kind of unfathomable potential this technology holds. The report was compiled by iPR Daily – a media publication specializing in global intellectual property – which gathered all the relevant data available until August 10 from China, the United States, Europe, Japan, South Korea, and also from the International Patent System of the World Intellectual Property Organization.

First on the list is the China-based technology behemoth Alibaba with 90 blockchain patents filed; second on the list is IBM – a notable blockchain spender – short just one vote from number one with 89 patent applications; the next three companies on the list are all related to conventional financial institutions – MasterCard (80), followed by Bank of America (53) and then the Chinese central bank, People’s Bank of China (44). It is not a coincidence that you can find many financial institutions on the list; studies and researches have shown that blockchain could save banks billions of dollars each year.

More notable companies on the list: Intel at 23rd (25 patent applications), Visa at 24th (24), Sony at 26th (23), British Telecom at 29th (23), Google at 30th (22), the Toronto-Dominion Bank at 33rd (21), and Walmart at 34th (21).

Other interesting findings from the report show that 36 companies have filed over 20 blockchain patent applications, and that nearly half of the ranked companies are coming from the U.S. and China. In the case of the U.S., it is not really surprising; but in the case of China, it is quite unexpected when considering the ongoing crackdown of the Chinese government against cryptocurrency, which might now deter Chinese companies from dealing with anything even remotely linked to crypto.

Anyway, while there are many different contrasting opinions about cryptocurrency, at least at the moment there seems to be a consensus regarding blockchain technology, as the largest companies in the world from virtually all areas and fields invest in developing blockchain-related innovations to improve their businesses – especially their efficiency, transparency and tracking capabilities.