{"id":8999,"date":"2019-01-07T07:00:26","date_gmt":"2019-01-07T15:00:26","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=8999"},"modified":"2018-11-16T21:35:51","modified_gmt":"2018-11-17T05:35:51","slug":"blockchain-china-leads-in-developing-blockchain-intellectual-property","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/blockchain-china-leads-in-developing-blockchain-intellectual-property\/","title":{"rendered":"Blockchain: China Leads in Developing Blockchain Intellectual Property"},"content":{"rendered":"

While blockchain may not be living up to the hype<\/a>, many think that the idea behind it has extreme potential.\u00a0 Surprisingly, one of the biggest proponents of blockchain is China.\u00a0 The Chinese are dominating research being devoted to the technology.<\/p>\n

Alex Batteson, an editor in the IP & IT practice area at Thomson Reuters Practical Law, said that<\/a> “blockchain is seen as the next frontier of financial services technology architecture \u2013 an area that swallows up vast amounts of capital expenditure every year. Companies are keen to stake out their territory as the technology rapidly advances.”<\/p>\n

In 2017, 56 percent of global blockchain patents<\/a> were filed by China, compared to 22 percent being filed by the US.\u00a0 10 percent of the patents were filed by Alibaba alone. Tencent and Baidu also have a significant number of patents filed. It’s a technology race where the US may be lagging.<\/p>\n

Alibaba terms its development of blockchain as BASIC<\/em><\/a> (Blockchain, Artificial Intelligence, Security, Internet of Things and Cloud Computing).<\/p>\n

David Li<\/a>, the founder of Trinity,\u00a0said that<\/a> “for the Chinese who are working on blockchain projects, the price of the underlying project means nothing to them\u200a\u2014\u200asince they can\u2019t own it. The main focus is on technology.”<\/p>\n

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While blockchain may not be living up to the hype, many think that the idea behind it has extreme potential.\u00a0 Surprisingly, one of the biggest proponents of blockchain is China.\u00a0 The Chinese are dominating research being devoted to the technology.…<\/span><\/p>\n

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