China’s ongoing push to dominate the emerging world wide blockchain know-how sector has been underlined by information that Alibaba Team Keeping on your own submitted a lot more than 10 per cent of all blockchain patents throughout the world in 2017.
Intellectual Property Legal rights Arms Race
Research by Thomson Reuters reveals that 56 per cent of all 406 blockchain patents issued all-around the earth in 2017 came from China, with the United States a distant second with 22 per cent. Put together with the speedy rise in blockchain patent filings from 134 in 2016 to 406 in 2017, the data tells a tale of an ongoing mental assets legal rights race that China is presently winning convincingly.
The Nikkei Asian Assessment experiences that of the 406 blockchain patents issued in 2017, Alibaba on your own submitted 43, with other Chinese tech giants like Tencent and Baidu also dominating the listing of blockchain patent homeowners.
The US still leads China in terms of all round number of blockchain patents submitted, but China is quickly closing the hole, and on an annual stage China is essentially in the guide.
No to Crypto, Yes to Blockchain
China has a very well-documented environment of regulatory hostility to cryptocurrencies and ICOs, possessing instituted a full ban on all crypto trading and ICO fundraising earlier this 12 months. Following the ban, auxiliary bans and on the internet purges have develop into commonplace in an hard work to enforce constraints.
Inspite of this, Chinese authorities remains very receptive to the know-how behind cryptocurrencies, with Chinese President Xi Jinping describing blockchain know-how as a single of a new generation of technologies that is “substantially reshaping the world wide economic construction.”
Speaking to the Nikkei Asian Assessment, Taiwan-primarily based IP specialist and Eiger Regulation companion John Eastwood stated China’s eagerness to get as substantially ‘land’ as doable in the blockchain know-how IP contest.
“Blockchain is a new technological landscape in which it could be very profitable for Chinese companies to get considerable territory in their patent assert language. Keeping many patents helps to give an aura of legitimacy that helps a lot of companies in the blockchain area to catch the attention of traders or acquirers.”
Alibaba’s Grand Designs
Area Chinese media claimed previous 7 days that the Wuchang municipal government in China’s northeastern Heilongjiang Province entered into a blockchain partnership with Alibaba subsidiary companies Ant Economical and Alipay for the goal of curbing food items fraud and ensuring customer have faith in.
Wuchang is renowned for its one of a kind superior-high-quality rice, but a latest spate of counterfeiting incidents have eroded customer have faith in and destroyed the livelihoods of farmers. The new partnership delivers together an Net of Things (IoT) tracking resolution and a blockchain, ensuring that each pack of Wuchang rice bought on Alibaba’s Tmall system will have a offer chain that is fully seen to buyers by means of a QR code.
The firm is also performing on equivalent anti-food items fraud tasks in Australia and New Zealand in partnership with PwC and the postal services in equally nations. At the very same time, it is increasing into the healthcare place with a partnership with the eatern Chinese town of Changzhou to keep clinical data on a blockchain, giving licensed well being personnel prompt obtain to patients’ complete clinical histories.
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