IPRdaily, a media outlet focused on intellectual property, in collaboration with incoPat Innovation Index Research Center, recently released the "2017 Global Blockchain Enterprise Patent Rankings (Top 100)". The data covers patents publicly announced worldwide in 2017, including invention applications, utility models, and design patents. The extraction period spanned from January 1 to December 31, 2017.
Key Findings from the 2017 Blockchain Patent Report
- Geographic Distribution: Among the top 100, Chinese enterprises accounted for 49%, followed by the U.S. at 33%. Companies from Russia, Japan, and other countries also made the list.
Top Performers:
- Alibaba led with 43 patents, securing the #1 position.
- Bank of America ranked second.
- The People’s Bank of China (PBoC) Digital Currency Research Institute claimed third place domestically and globally.
Alibaba’s Blockchain Innovations
Alibaba has integrated blockchain technology into diverse applications, including:
- Public welfare initiatives (e.g., transparent donation tracking).
- Supply chain management, partnering with PwC in March 2017 to enhance cross-border food anti-counterfeiting and traceability.
China’s Central Bank Digital Currency (CBDC) Progress
The PBoC’s Digital Currency Research Institute, established in 2017, has been pivotal in exploring a state-backed digital currency. Key milestones include:
- 2014: Formation of a dedicated research group to assess feasibility.
- 2016: Public announcement of CBDC development goals during a digital currency symposium.
Professor Yang Dong of Renmin University noted in January 2018:
"China’s CBDC is currently in the R&D phase, with potential rollout by late 2018 after evaluating impacts on monetary policy, economy, and society."
Though no official timeline exists, the PBoC’s stringent oversight of cryptocurrency trading suggests accelerated CBDC development.
Other Notable Rankings
- Tencent: Ranked #23.
- Hyperchain Technology: #11.
- WeBank (Qianhai): #47.
FAQs About Blockchain Patents and CBDCs
Q1: Why did Alibaba rank first in blockchain patents?
A1: Alibaba invested heavily in R&D, focusing on practical applications like supply chain transparency and anti-counterfeiting, which required extensive patent filings.
Q2: How does China’s CBDC differ from cryptocurrencies like Bitcoin?
A2: Unlike decentralized cryptocurrencies, China’s CBDC is state-issued, regulated, and designed to complement the existing monetary system.
Q3: What industries benefit most from blockchain patents?
A3: Sectors like finance (cross-border payments), logistics (tracking), and public services (identity verification) see significant blockchain adoption.
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Strategic Implications
The dominance of Chinese firms in blockchain patents underscores China’s aggressive push for technological sovereignty. As Alibaba and Tencent expand their blockchain ecosystems, collaborations with entities like the PBoC could reshape global digital finance.
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