49 % of Blockchain Patents in China Concentrated in Two Cities
Despite a nationwide clean-up of the cryptocurrency market and hard-handed policy towards token-based fundraising activities, China’s blockchain crazy is in full swing.
As of today, a total of 2,482 blockchain related patents ( including patent applications and granted patents) are from China, according to data from Beijing News’ Smart City Research Institute. Beijing, Shenzhen, Shanghai and Hangzhou lead the country in terms of overall number of blockchain patents, but the survey paints a bleak picture of granted patents in the country.
The latest report from Smart City Research Institute shows that 23 cities hold 2307 blockchain patents, accounting for 92.9 percent of the total. Beijing tops the ranking with 756 blockchain related patents, and Shenzhen holds the second spot with 459 patents, followed by Shanghai (210), Hangzhou (187) and Guangzhou(130).
Hangzhou-based Alibaba, together with its financial wing Ant Financial tops the “ 100 Blockchain Enterprise Patent Ranking” which issued by IPRdaily in September with 90 related public patent applications. And Beijing-based People’s Bank of China, the country’s central bank, takes the fifth spot with 44 patents.
The Smart City Research Institute’s research examines regional differences in the development of the emerging technology finding that there is a large gap between the wealthy east coast and the less-developed western regions. Relevant blockchain patents are concentrated in four areas: Yangtze River Delta, Bohai Rim, Pearl River Delta and Beibu Gulf economic zone.
Meanwhile, northwest and northeast regions hold only 2 percent of Chinese blockchain patents. Lack of advanced data infrastructure is blamed for the two region lagging behind others in promoting blockchain growth.
It is worth noting that only 18 out of the 2,484 patents are granted patents. It would mean the overwhelming majority of blockchain pants fail to lead to workable products. China has a long way to go to improve the quality of patents and its innovation level.
In addition, Beijing, Shanghai and Guangzhou has become China’s most concentrated area of legislation and policy related to the blockchain industry. According to Securities Daily, 32 blockchain-related policies has been introduced throughout the country in the recent years and 11 projects are concentrated in these three cities.