China dominates blockchain patent applications as regulations are streamlined
China continues to top the leader boards every year when it comes to blockchain patent applications. Domestic companies are moving quickly to protect ideas and innovations, at a speed that far outpaces that of counterparts in the US.
According to Tokyo-based research firm Astamuse, the US, China, Japan, South Korea and Germany together submitted around 12,000 blockchain-related patent applications through 2018, with China accounting for over 60% of the five-country total. That is around 7,600 applications in China, three times as many as US-based companies.
Chinese companies Alibaba, Tencent and Baidu are among some of the top patent owners and filers in the blockchain arena.
The patent data indicates the increasing volume of activity in the blockchain space and highlights the potential technology barriers in terms of entry into this market. China’s dominant position with blockchain patents will prevent competitors from entering the local market and showcases the country’s competitive position in the global blockchain race.
In China, the backing from the government has fuelled the country’s rise when it comes to blockchain inventions.
The Chinese State Council included blockchain development in its latest Five-Year Plan and China’s President Xi Jinping has spoken of the country’s determination to lead in innovation worldwide, citing blockchain, artificial intelligence (AI), the internet of things and other technologies as the driving forces.
Blockchain’s efficiency and its ability to generate cost-savings in transactions appeals to China. Government support has followed through with legislative changes, especially in the patent arena, to streamline and accelerate applications.
Examination guidelines
The China National Intellectual Property Administration (CNIPA) published amendments to its patent examination guidelines, which became effective on November 1, 2019, as well as examination guidelines on emerging technologies which became effective on February 1, 2020.
The latter amendments clarify how emerging technologies covering AI, the internet, big data and blockchain should be examined.
Specifically, the amendments provide examination guidelines for inventions comprising features such as algorithms, business methods and rules.
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