China dominates global blockchain patents – crypto trends

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Several companies in China top the global blockchain patent application ranking and collect over 1,500 applications. However, the co-founder of Ethereum, Vitalik Buterin, rejects the importance of these classifications.

According to the IPR Daily Agency and the IncoPat data platform, China will lead the blockchain-based patents in 2019 by ensuring At least seven of the first ten places, among which they have the first three according to the defined areas.

The well-known company comes first Alibaba and his payment daughter Alipayand then go to second place where Tencent is and third place is Ping An Group.

As expected, not everyone is convinced of this classification and its importance. That’s why Vitalik Buterin confirmed via Twitter that this doesn’t really mean nothing relevant that could affect their performance.

If you use it to indicate how many blockchain patents your country / company / organization has, you do not understand blockchains

According to information about blockchain technology, the importance that the eastern country attaches to blockchain innovation needs to be recognized.

As for the number of patents recently filed, it is at the forefront of these trends and is also a way to achieve this leadership role. was to implement blockchain technology from the government to manage its financial activities and encourage Chinese companies to adopt this technology.

It was last year through a statement by Chinese Prime Minister Xi Jinping asking the country Use the blockchain opportunity for your financial activities From that moment, business with this new business model increased and the Chinese central bank’s new currency became known as DE / CP, which will initially be tested in four major cities in the Asian country to officially start operations before the 2022 Winter Olympics in Beijing.

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