The blockchain industry is booming: IBM leads with patents

July 17, 2019 at 1:15 PM | By Jit Sutradhar Companies

The US is competing with China for the title of world patent champion in the blockchain sector. American tech giant IBM trebled its blockchain patents year-on-year. These and other signs speak a clear language: There is enormous potential in the blockchain industry.

Time and again one gets the impression that the value of blockchain technology has to be reflected in the price of various cryptocurrencies. The market around Bitcoin & Co. is still more volatile. It is therefore advisable to leave this busy track, which is often like a rollercoaster, from time to time.

An edifying alternative concerns the development of the largest companies in the world, especially tech giants. With 366,000 employees IBM belongs in this category. The company has done a great job in its development department, reveals the marketing expert Yuval Halevi via Twitter post :

In the last year alone, the number of blockchain patents of IBM has increased by 300 percent. If one of the largest companies in the world […] puts so much of their resources into the development of their blockchain department, it reveals a lot about the market potential.

Input versus Output

For IBM the trophy of the patent master seems to have a certain value. For example, the American tech giant boasts for the 26th time in a row this title. In 2018 alone, the group was awarded the contract for more than 9,100 patents. “Almost half [of the patents] is accounted for by AI, cloud computing, cybersecurity, blockchain and quantum computers,” it says on their homepage . The exact number of Blockchain patents, however, does not emerge from their annual report . It only states that more than “3,000 patents on AI, cloud, cybersecurity and quantum computers are missing”. According to their annual report, they invested more than $ 5 billion in their research and development department.

That led to thousands of […] innovations, leading IBM to lead the US patent market for the 26th time in a row,

it says in it.

USA versus China

Also in terms of job offers in the blockchain industry, IBM has the edge. According to a media post, IBM leads with 335 job offers until May 2019, followed by Oracle and PwC. Amazon arrives at rank 7 with 57 entries. As far as international payments are concerned, it was last reported by IBM’s World Wire . Only one company is ahead of IBM in the number of patents worldwide: the Chinese Amazon competitor Alibaba . In total, the Chinese government approved 790 patents last year, of which 262 are due to Alibaba.

Thus, the world’s most populous nation is clearly at the top.

image via Shutterstock


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