In the 2017 Global Enterprise’s Blockchain Patent Ranking (Top 100) recently co-released by IPRdaily (a new media committed to creating the world’s most influential intellectual property cooperation platform) & incoPat (a patent database collecting more than 100 million pieces of patent information from 112 authorities), blockchain patents from China-based enterprises account for 49% among 1060 pieces of blockchain patents, and over 10% are from five Hangzhou-based enterprises. Next comes the United States, contributing 33%. Companies from Russia, Japan and other countries also can be seen on the list.

Alibaba wins the patent champion with 43 pieces of patents, Bank of America Corporation ranks second, and next comes the PBoC (People’s Bank of China) Digital Currency Research Institute.

China’s growth in blockchain patents and blockchain financing is currently the leading position in the world, far faster than that of the United States, as reported in the China Blockchain Industry Report 2018 released in Davos on Jan.26.

Alibaba has already applied blockchain technology in several scenarios with public welfare, e-commerce and finance included. Early in October 2016, Ali Cloud has launched the world’s first blockchain-based email evidence repository, which allows users to synchronized and store critical data of critical emails to third parties, even judicial department. Months later in March 2017, Alibaba joined hands with PwC to explore blockchain in fight against food fraud and increase the traceability of food products.

Note that another China’s institute is among the top three – PBoC Digital Currency Research Institute. Though founded last year, it has been working on the research and development of legal digital currency as early as 2014.

Yang Dong, vice president of Law School of China People’s University and director of the Center for Financial Technology, in January disclosed that

China’s legal digital currency, now still in its R&D stage, will seek opportunity to launch. Its influence on existing monetary policy, monetary system, economy, society and people’s life, as well as international influence, shall all be considered. If all goes well, the legal digital currency is expected to come out in the second half of 2018.

“The application of the blockchain technology is still in its early stage, and everyone is in an attempt to make the most of it. The cost for a blockchain enterprise filing patent is not that much, but it does do good for the development of the whole industry.” a CEO of a Hangzhou-based blockchain company said.

Top 100 Global Blockchain Patents Holders of 2017

The two right lines indicate its number of blockchain patents of 2017 and total blockchain patent quantity

Reference data: Number of patents published worldwide in 2017, including inventions, utility models and design patents.

Time range: January 1, 2017 to December 31, 2017