Everyone has heard of Bitcoin, it is apparently taking over the world and might throw our beloved traditional paper money in the past. I guess that’s where the human race is just at now, digital lives with digital money. But that’s not all that the Bitcoin has done for the world, it has shifted the core of businesses and companies with its underlying blockchain technology. As a result major companies from all over the world are in a proverbial race for the acquisition blockchain patents. Basically, they want the patents for this new technology and they want them fast.
According to the Bitcoin Patent Report, a total of over 2,000 blockchain patents have been filed. The statistics bear an eerie resemblance with the patent race for the Internet, in the early days of cyberspace; that went from 165 in 1995 to 2,193 in 1998, according to a Harvard report.
Jumping back to blockchain, in the year 2017 alone, over 1,200 blockchain patent applications were filed globally, which is a huge step up from the meager 594 in 2016. 78% of the applications in 2017 hailed from the US and China, according to financemagnates.com.
Here is a list of the top blockchain patent owning companies, some might come as a bit of a shocker though.
Could Google’s famous catch phrase ‘Just Google it’ change to ‘Just blockchain it’? Nahhh, it doesn’t have the same ring to it. But that aside, the Internet’s search engine giant has filed for 9 blockchain patents related to information security. Google is apparently looking at blockchain to secure the information that is stored in their cloud.
With a total of 27 blockchain patents and applications, IBM is playing rigorously in this blockchain game. Recently, the company was awarded a patent for a system, the purpose of which is to basically verify a blockchain’s integrity. So it’s kind of like blockchain verifying a blockchain. Talk about blockchain level inception.
Going head to head with IBM, is the financial services company, Mastercard, has also filed 27 blockchain patents. They are apparently exploring the option of accepting payments in Bitcoin and probably other cryptocurrencies as well.
The tech giant of the computer world is also in this blockchain race, and has filed 40 patents related to blockchain. It seems that they too, are aiming leverage the blockchain tech for the purpose of accepting payment in cryptos along with further securing the data storage.
Bank of America
You might want to save your jaw from dropping because Bank of America leaves everyone behind, by filing for 48 blockchain patents! It does come as a shocker after the bank banned credit card purchases of cryptocurrencies. But it looks like they have finally acknowledged the potential of the blockchain power to help boost their systems. Apparently their patents are related to payment systems.
Stay tuned to Blockpublisher, because this list is likely to get bigger in the coming year.