Alibaba Tops Global Blockchain Patent Rankings Shows New Report

A new report published by iPR Daily revealed that Alibaba tops the chart for blockchain-based patents followed by IBM and Bank of America.

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iPR Daily published a research showing that internet giants Alibaba ranks as number one on a list that ranked global entities by the number of blockchain-related patents filed over the last one year.

The blockchain patent list

In compiling the list, the media outlet, which specializes in intellectual property, says it gathered data from China, the EU, America, Japan, and South Korea.

iRP stated that it also consulted the International Patent System from the ` to rank.

The research, published on Friday, August 31 shows that Chinese internet giant Alibaba tops the list, filing a total of 90 patent focused on blockchain and other related technologies.

  1. Alibaba – 90 patents
  2. IBM – 89 patents
  3. Bank of America – 53 patents
  4. People’s Bank of China – 44 patents

IBM claims the second position with a total of 89 filings, while MasterCard occupies third place with 80 filings, and the Bank of America made it to fourth place, with 53 blockchain patent applications.

The People’s Bank of China (PBoC), is fifth on the list, with a total of 44 patent applications. Each patent, a major effort by the Central Bank of China to create a digital currency.

In a similar report ranking global entities based on the number of blockchain-related patents filed in 2017, the People’s Bank of China PBoC – (China’s central bank) filed the largest number with 68.

Alibaba was ranked second filing 43 applications, and Bank of America with 33 filings. Comparing the research published by iRP with previous reports, one would agree that the blockchain technology is fast growing into other industries.

China – blockchain and cryptocurrencies

The data previously published by WIPO data indicated that the highest number of patent filings for blockchain technology in 2017 came from China, after filing a total of 225, compared with the 91 filed by America and Australia’s 13.

Although China has embraced the blockchain technology better than any country, it has counterbalanced this by an increasingly stringent stance against decentralized cryptocurrencies.

China has been tightened regulatory laws on cryptocurrencies. Chinese authorities recently banned the websites of more than 124 offshore cryptocurrency exchange desks from operating in the country.

This position is seen in some of the largest tech giants Baidu, Alibaba, and Tencent who have also banned all cryptocurrency transactions and discussion forums on their platforms.

Alibaba and blockchain technology

The report shows that China leads the race for blockchain, with Alibaba Group Holding contributing to China’s dominance in distributed ledger technology on a global level.

Alibaba leads the pack at a time when technologies developed by global entities are starting to move into real-world production, with Alibaba’s Jack Ma referring to blockchain as a game changer for the world.

Alipay, Alibaba’s third-party mobile, online payment platform and remittance service, which was launched in June last week partnered with the municipal government in Wuchang.

Alibaba’s online retail platform will be used to secure the distribution of rice which will be tagged with a QR code that allows customers to track information about the harvest, the type of seed, and shipments, while also recording delivery time.

The company also has made some remarkable steps in the healthcare sector, Ali Health interconnects health centers and district hospitals in a cost-effective way to improve healthcare services.

Alibaba also recently partnered with the Changzhou prefecture to improve access to information by giving doctors instant access to patients’ medical histories of over 4.5 million people.

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