The Rise of Blockchain Patents: A Global Perspective

According to reports, according to the Global Blockchain Patent Status Research Report released by the On Chain Industry Blockchain Research Institute, from January 1, 2009 to December 31, 2022, there were 37595 patent authorizations in the global blockchain field, of which 22457 were granted in China, accounting for 59.7%; 8950 US patent authorizations, accounting for 23.8%; 1339 Japanese patent authorizations, accounting for 3.6%; 976 South Korean patent authorizations, accounting for 2.6%; 604 German patent authorizations, accounting for 1.6%; The number of patent authorizations in Australia is 453, accounting for 1.2%; Singapore has a patent authorization volume of 424, accounting for 1.1%, while other countries have a patent authorization volume of less than 1%.

Report: 37595 global blockchain patent authorizations, with China accounting for 59.7%

Blockchain technology has taken the tech industry by storm in recent years, with its potential to disrupt various sectors, including finance, healthcare, supply chain management, and more. As a result, companies worldwide have been racing to secure patents for their blockchain-related innovations. According to the Global Blockchain Patent Status Research Report released by the On Chain Industry Blockchain Research Institute, from January 1, 2009 to December 31, 2022, there were 37,595 patent authorizations in the global blockchain field. In this article, we will examine the report’s findings and delve into the significance of blockchain patents across the globe.

Overview of Blockchain Patents Worldwide

The report indicates that China is leading the way in blockchain patent filing, with a staggering 22,457 granted patents, accounting for 59.7% of the total blockchain patents granted worldwide. The United States follows behind with 8,950 patents, comprising 23.8%. Japan, South Korea, Germany, Australia, and Singapore follow behind, with 3.6%, 2.6%, 1.6%, 1.2%, and 1.1% shares, respectively.

Why Are Blockchain Patents So Important?

With blockchain technology still being in its early stages, securing a patent for a new innovation is crucial for many companies to protect their intellectual property and secure a competitive advantage. Patents provide legal rights to the patent holder, providing them the exclusive right to make, use, and sell the patented invention for a limited period. This exclusivity can also provide the company with licensing opportunities to other businesses looking to use the innovation in question.

Patenting Of Blockchain Technologies

Blockchain technology has various use cases, including cryptocurrency, smart contracts, digital identity, and more. As a result, there are several areas in which blockchain technology is being patented.

Cryptocurrencies

Cryptocurrency patents relate to blockchain-based tokens that have monetary value, including Bitcoin, Ethereum, and Litecoin. These patents often relate to various aspects of the digital currencies, including their creation, secure storage, and processing of transactions.

Digital Identity

Patents in this category relate to the use of blockchain technology to create decentralized, secure digital identities. This new trend in blockchain aims to address current challenges associated with centralized digital identities, such as data breaches and identity theft.

Supply Chain Management

Many companies are exploring the use of blockchain technology in supply chain management, as it enables them to track products and services’ movement, ensuring transparency and reducing fraud. Patents in this category are related to various aspects of the supply chain process, including logistics and inventory management.

Conclusion

The rise of blockchain technology has led to an increase in patent filings across the globe, with China leading the way in blockchain patent filing. The significance of blockchain patents is evident, with patent holders securing legal rights to their innovations, gaining a competitive advantage in the market. The many use cases for blockchain technology, including cryptocurrencies, digital identity, and supply chain management, highlight the importance of securing patents in this innovative field.

FAQs

How long does a blockchain patent last?

Typically, a blockchain patent lasts for 20 years from the date of its filing.

Can a blockchain-related patent be challenged in court?

Yes, like any other patent, blockchain patents can be challenged in court if they are found to be non-innovative or infringe on another patent.

Does the patent holder have to use the technology they patented?

No, the patent holder is not obligated to use their patented technology. They have the right to license their innovation to other companies or leave it unused.