China is one of the most important centers for the development of blockchain technology and has the most patents registered in this field. The Chinese National Intellectual Property Administration has approved 2191 blockchain patents for the period 2017-2019.
The Global Times reported that 35 major multinational companies obtained 212 blockchain patents by the end of March 2020. These include Microsoft, Walmart, Mastercard, Sony and Intel.
Most blockchain patents are registered by Mastercard
Of the international companies, most blockchain innovations were registered by Mastercard, with 46 patents registered. Officially, the company has no projects in operation based on this technology. However, Mastercard is part of the initiative to develop a global payment system based on the blockchain developed by R3. Most of its patents are focused on payment methods, payment software and payment security. The company started filing applications in 2017.
Other companies that have registered patents in China are Nokia, Intel and Oracle, with 13, 12, and 9 such projects.
Most of these multinationals are still in the stage of technological accumulation, without having any concrete plans for implementing the technology.
Curiosity!
It is interesting to note that a large proportion of US companies (43%) choose to register their patents in China as well. By comparison, only 4% of Chinese companies made the effort to register their innovations in the United States.
In addition, the Chinese patent office has accelerated the process of processing applications – it only takes six months, compared to 20 months in the US.
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