There has been a significant rise in the number of blockchain patents filed last year. Some of the major MNC’s have dived in this emerging technology to explore its potential and features that can be used to leverage benefits in the desired domains. The most prominent fact is that the companies are deviating towards or in other words preferring this form of distributed ledger over other technologies like Artificial Intelligence and Cloud Computing.
This idea can be concluded with the fact that tech giants like IBM obtained nearly 9,100 patents last year which includes, AI, cloud computing and blockchain based innovations. Certainly, this is a record figure which has made IBM a patent leader consecutively 26th time in a row. They have a total of 110,000 patents out of which the blockchain number is rising continuously which has made them one of the leaders in the blockchain industry.
The US Patent and Trademark Office announced six blockchain patents from IBM in just single week last year. They have already developed a private distributed ledger system which is said to be quite a lot more effective than a normal public blockchain network, as mentioned on Cryptovest. However, they are not the pioneers of this industry and they land second just next to the Chinese company, Alibaba in the number of patents.
What Makes Blockchain So Special?
There is no roadblock for blockchain to get in any specified domain. It has almost become omnipresent in terms of adoption and acceptance in all major commercial sectors. However, the other technologies remain accessible only to some domains which also require quite a lot of technical know-how. Blockchain technology is still evolving and there are many more additions and developments to be seen in the future.
According to 8BTC, until then, the renowned giants like Alibaba, IBM, MasterCard, Bank of America and many more are competing to obtain more and more blockchain patents for its best possible deployment.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]