The Blockchain Patents Race
China has been leading the way when it comes to registering “Blockchain patents” with more than 50% of all patents filed in 2017 alone. Although the concept of filing patents for blockchain, being an open-source project, is quite a matter of debate, taking things at face value reveals that huge investments are being poured in by enterprises to set up “Blockchain Research Committees” for evaluating future prospects.
At least 45 patents have been filed by Bank of America, the highest among any corporation till date. Their patent models usually come under advancing financial solution, one of them being a model for a fully automated cryptocurrency exchange, another being an enterprise-focused solution that functions as a “three account system”
Other institutions such as China’s nChain and Gogo Chicken, IBM’s flagship product Watson, Walmart, Maersk have all joined the race to researching the future of Blockchain-based enterprise-level solution, hopefully increasing efficiency and interoperability among them. It remains to be seen if any value at all is created from all the attempts centralized entities are putting in to stay in the game.
Source: ICOAlert, ipwatchdog, cointelegraph
- SB
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