Will China Lead the World in Blockchain Technology?
Chinese companies are taking blockchain technology very seriously.
According to data sourced from the World Intellectual Patent Organization by Thomson Reuters, more than half of 2017’s 400 blockchain-related patent applications came out of China. For comparison, the United States came in second with 91 applications.
As noted by Quartz, plenty of applications for patents don’t receive a seal of approval and even those that do don’t automatically see the patent’s vision crafted into an actual product. Nevertheless, patents are attractive to investors and provide useful market signals. As explained by Thomson Reuters’ Practical Law editor Alex Batteson:
They are a tool that can shut out competitors and provide first movers an advantage. Many of the largest companies in the tech world make the majority of their income from licensing patented technology.
Changing of the Tides
China hasn’t been the most blockchain friendly country in the …
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