patents are on the rise. During 2019 three times more blockchain patents were published than the year before. However, in the first half of 2020 already more blockchain patents were issued than in all of 2019.
Up until now, IBM has always been the largest owner of blockchain patents. But Chinese internet giant Alibaba is quickly gaining ground and is set to take IBM's place by the end of 2020. According to a study conducted by KISS patent, Alibaba has been publishing ten times more blockchain patents than IBM this year.
Another interesting finding of the study is that is not companies specializing in blockchain which are publishing patents. Instead, this is done by Fortune 500 companies who have the capital to conduct research and development on a larger scale and bet on multiple horses at the same time.
The US taking the lead
In terms of countries having the most blockchain patents, the United States is far ahead of its peers. The country has more than 2000 blockchain
patents, the country which comes in second is quite surprising, the Cayman Islands with 350 patents. However, there is a logical explanation for this, the Alibaba subsidiary owning all blockchain patents is registered on the Cayman Islands.