Blockchain technology has followed different trajectories in the United States and China, two superpowers engaged in fierce technological competition. Till the year 2017, the US Companies - Mastercard, Bank of America, and IBM were leading the innovation race in the Blockchain technology, however, after 2017, there was a paradigm shift and Chinese companies started outpacing the US competitors in Blockchain innovation. Right now, Chinese Companies – Alibaba, Ping An Insurance, Tencent Holdings, and Baidu are some of the leading patent holders in the technology space. The commitment of the Chinese Govt. towards Blockchain technology has further strengthened the Chinese industry’s belief to adopt, invest and conduct R&D in the technology area. Recently, it seems that, for the West, there has been a somewhat conundrum about the focus on the technology, thereby having only a steady linear patent filing trend, whereas, China has accelerated its R&D and surpassed the US by a significant margin. The trend shows that these margins are further going to widen.
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April 20, 2020
For more insights, please read our analysis in two part series on IAM Media at below links:
Part 1: https://www.iam-media.com/market-developments/china-pulls-ahead-of-the-us-in-blockchain-technology-race
Part 2: https://www.iam-media.com/market-developments/alibaba-leads-chinas-surging-blockchain-patent-filings